India: Iron ore concentrate prices remain firm w-o-w as market awaits OMC auction

• OMC auction expected on 19 Aug’25
• Raipur pellet prices remain largely stable

Iron ore concentrate prices in Jabalpur, central India, recorded a slight increase this week, with BigMint’s assessment indicating that firm pellet prices and improved sentiment in the Odisha iron ore market have supported offers in the region.

BigMint’s bi-weekly iron ore concentrate index stood stable at INR 4,550/tonne (t) ($52/t) exw-Jabalpur, stable in comparison with the previous assessment on 6 August 2025. Meanwhile, Fe 63% iron ore concentrate prices are hovering in the range of INR 4,700-4,900/t ($54-56/t) exw.

A few deals were reported at around INR 4,900/t ($56/t). However, sellers largely focused on completing pending orders, which restricted their ability to accept new bookings and kept overall market activity steady.

The logistical bottlenecks caused by persistent rains eased in the recent days. With transportation improving, delayed bookings have resumed.

Despite this progress, a shortage of material continues due to the backlog created during earlier supply disruptions. This tightness in supply has encouraged some sellers to raise offers, with one market participant telling BigMint that “prices were adjusted upwards in response to the prevailing shortage”.

The OMC auction, scheduled for 19 August, is expected to provide greater clarity on prices.

Rationale

• One (1) trade of 20,000 t was recorded in this publishing window and were considered under T1 trade. These were accorded 50% weightage.
• Seven (7) offers and indicative prices were heard, of which six (6) were taken into consideration as T2 trades, receiving 50% weightage.

Factors influencing concentrate prices 

• Pellet prices remain firm in Raipur: BigMint’s bi-weekly domestic pellet (Fe63%) index for Raipur, remained unchanged at INR 10,100/t ($115/t) DAP on 12 August 2025 compared to the previous assessment on 8 August. Stable offers from Raipur-based pellet producers supported market steadiness, while buyers primarily procured on a need basis, aligning purchases with sponge iron demand and considering alternative sourcing options.
• Odisha iron ore fines index stable w-o-w: BigMint’s Odisha iron ore fines (Fe 62%) index rose by INR 150/t (2/t) w-o-w at INR 5,500/tonne (t) ($63/t) ex-mines on 8 August 2025. This week, demand was present in the market, but the offered volume was low, and buyers were cautious due to rising prices. Sources reported that trading sentiment remained sluggish despite underlying demand, primarily due to sharp price hikes by miners.

Outlook

Market participants are awaiting the outcome of OMC’s iron ore auction for better price clarity, however, the prevailing material shortage in the region is likely to lend further support to prices.