India: Iron ore concentrate prices remain largely stable w-o-w amid positive market sentiments

• Pellet prices in Raipur remain firm w-o-w
• No impact of OMC auction outcome on market

BigMint’s bi-weekly India iron ore concentrate stood at INR 4,800/tonne (t) ($54/t) exw-Jabalpur, up by INR 50/t ($1/t) from the previous assessment on 20 September 2025. Fe 63% iron ore concentrate prices hovered at around INR 5,000-5,100/t ($56-58/t) exw, with some deals closed at these levels.

Sellers are presently focusing on clearing their older bookings to fulfill prior commitments before taking up new deals. By doing so, they can close pending orders and then enter fresh bookings at the prevailing market prices, allowing them to benefit from the current levels without being restricted by earlier contracts. Meanwhile, OMC’s auction has not had any noticeable impact on the market so far.

A Jabalpur-based seller explained that “the market is currently facing a shortage of supply, while at the same time demand remains quite strong. This combination of limited availability and steady buying interest has played a key role in keeping prices stable and preventing any significant fluctuations.”

Another Jabalpur-based seller said that “most miners in the region have already secured bookings for the next 15-30 days. As a result, there is limited material readily available in the open market, which is further contributing to the tight supply situation. This restricted availability, combined with ongoing demand, is also helping prices remain steady.”

Rationale

• No trade was recorded in this publishing window.
• Eight (8) offers and indicative prices were heard, of which six (6) were taken into consideration as T2 trades, receiving 100% weightage.

Factor supporting iron ore concentrate prices

• Pellet prices remain stable in Raipur: BigMint’s bi-weekly domestic pellet (Fe63%) index for Raipur, remained stable at INR 10,300/t ($116/t) DAP on 23 September compared to the previous assessment on 19 September. Despite weak trading activity, prices held firm as the festive season and a significant correction in Odisha iron ore prices kept buyers on the sidelines.

Outlook

Iron ore concentrate prices in Jabalpur are expected to remain stable in the near term, supported by firm pellet prices in Raipur and strong underlying demand. Supply shortages will continue to limit availability in the spot market. Sellers prioritising older bookings may delay fresh deals, keeping trade volumes muted.