- Jabalpur material’s low alumina content sustains demand
- Tight supply props up prices, plant shutdown expected in May
Iron ore concentrate prices in Jabalpur, India, remained largely unchanged w-o-w as of 29 April 2026. According to BigMint’s latest bi-weekly assessment, Fe 62% concentrate prices were stable at INR 5,250/t ($55/t) ex-works, maintaining the same level since 25 April, with no fresh trades heard for this grade during the assessment period.
Meanwhile, Fe 63% concentrate continued to be quoted in the range of INR 5,500-5,700/t ($59-60/t), indicating selective but firm demand for higher-grade material.
Despite a broader downtrend in downstream steel, pellet, and Odisha iron ore prices, concentrate prices in Jabalpur showed notable resilience due to limited material availability. Additionally, the comparatively lower alumina content of Jabalpur-origin material enhances its cost-efficiency and processing advantage, thereby sustaining buyer preference and demand. Moreover, a seller highlighted that a plant is expected to undergo a temporary shutdown until early May, with operations likely to resume gradually post mid-May.
Market stability was further supported by the execution of previously booked orders, with sellers currently focused on dispatching earlier commitments. Fresh price discovery remains limited, as new offers are yet to emerge in the market. On the demand side, buyers exhibited caution, adopting a wait-and-watch approach while seeking lower prices than those currently prevailing.
Another market participant indicated that “prices have remained stable primarily due to ongoing dispatches of older orders, with no significant change in current transaction levels.”
Rationale
- Zero (0) trade was recorded in this publishing window, and thus, this category was not taken into consideration, receiving a 0% weightage.
- Ten (10) offers and indicative prices were heard, and seven (7) were taken into consideration as T2 trades, receiving 100% weightage.
Factors weighing on prices
- Raipur pellet offers drop by INR 300/t ($3/t): Raipur-based pellet producers reduced their offers for 62.5/63% (+/-0.5%) material by INR 300/t ($3/t) to INR 10,000/t ($106/t) exw recently. The downward revision follows persistent weakness in sponge iron and semi-finished steel prices, coupled with sluggish market sentiment and limited buying interest from downstream sectors.
- Odisha iron ore prices fall by INR 150/t ($1.5/t) w-o-w: BigMint’s Odisha iron ore fines (Fe 62%) index declined by INR 150/t ($2/t) w-o-w to INR 5,600/t ($59/t) ex-mines as of 25 April. The correction follows the latest Odisha Mining Corporation (OMC) auction, where subdued downstream sentiment continued to weigh on fines demand. Although several buyers secured bulk volumes through the auction, overall bidding remained cautious, particularly for fines, amid ongoing weakness in pellet prices and limited recovery in the semi-finished steel segment.
- Sponge PDRI prices drop INR 750/t ($8/t) w-o-w: Sponge PDRI prices in Raipur fell by INR 750/t ($9/t) w-o-w to INR 25,550/t ($268/t). Market activity remained subdued to moderate, with buyers largely restricting procurement to immediate need-based requirements. Demand in the central region continued to be cautious, with limited appetite for bulk purchases.
Outlook
Iron ore concentrate prices in Jabalpur are likely to remain under pressure in the coming week. Weakness in downstream segments, including pellets, sponge iron, and iron ore fines, is expected to restrict any notable upside, while cautious buying and resistance at current price levels may continue to limit fresh transactions and weigh on prices.
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