- Market waiting for OMC auction outcome
- Pellet and Odisha iron ore prices stable
BigMint’s bi-weekly assessment for India’s iron ore concentrate remained unchanged at INR 4,700/tonne ($53/t) ex-works Jabalpur, steady compared to the previous evaluation on 11 October 2025. Market participants indicated that prices continued to hold firm.
Meanwhile, Fe 63% concentrate was heard trading in the range of INR 4,900-5,100/tonne ($56-58/t) ex-works, with a few deals concluded within this band. These transactions suggest that the market has largely accepted this price level, reflecting steady sentiment and limited downward pressure in the near term.
A Jabalpur-based seller highlighted that the market is currently witnessing a tight supply situation, which, coupled with steady buying interest, is lending firm support to concentrate prices in the region.
He remarked, “There is a shortage of material in the market, but demand continues to remain healthy, keeping prices well-supported. We don’t expect any price correction till Diwali. In fact, post-Diwali, prices are likely to see an upward movement as buying activity picks up further and supply remains constrained.”
The Odisha Mining Corporation (OMC) has scheduled its next iron ore auction on 17 October 2025. Market participants are closely monitoring the event, particularly the base price announcement and auction outcomes, to gauge the near-term market direction.
Rationale
- No trade was recorded in this publishing window.
- Nine (9) offers and indicative prices were heard, and all were taken into consideration as T2 trades, receiving 100% weightage.
Factors supporting iron ore concentrate prices
- Pellet prices remain largely steady in Raipur: PELLEX, BigMint’s bi-weekly domestic pellet (Fe 63%) index for Raipur, slipped by INR 50/tonne to INR 10,250/t ($116/t) DAP on 14 October 2025, compared to the previous assessment on 10 October. Market participants highlighted that bulk transactions have been limited, as mills are adopting a cautious approach amid uncertain demand recovery and volatile downstream prices. Overall, sentiment in the Raipur pellet market remains tepid, with participants awaiting stronger cues from steel fundamentals before committing to larger volumes.
- Odisha iron ore prices firm w-o-w: BigMint’s Odisha iron ore fines (Fe 62%) index stayed firm at INR 5,300/t ($60/t) ex-mines on 27 September, unchanged w-o-w. Iron ore prices in Odisha held steady as market activity stayed subdued, with participants adopting a cautious buying approach ahead of the festive season. Limited material availability in the spot market also lent support to prices. Meanwhile, recent merchant miner auctions drew a mixed response-while all offered iron ore fines were fully booked, lump sales saw only moderate participation, reflecting selective procurement strategies among buyers amid steady-to-soft demand in the downstream steel segment.
Outlook
Iron ore concentrate prices are expected to increase in the near term, supported by shortage and steady demand. No major correction is likely before Diwali, with sentiment likely to strengthen post-festive season. Market direction will be guided by the outcome of the upcoming OMC auction and post-holiday buying trends.
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