India: Iron ore concentrate prices remain stable w-o-w; OMC auction to set market direction

• Firm pellet, iron ore prices support concentrate tags
• Sellers focus on dispatching previously booked orders

Iron ore concentrate prices in Jabalpur stayed firm w-o-w, backed by a recently concluded deal. Positive trends in pellet and Odisha iron ore markets further supported stability. Overall, concentrate prices held ground amid favourable market sentiment.

BigMint’s bi-weekly India iron ore concentrate index stood at INR 4,800/tonne (t) ($54/t) exw-Jabalpur, flat from the previous assessment on 13 September 2025. Prices of Fe 63% iron ore concentrates hovered near INR 4,900-5,100/t ($56-58/t) exw.

A Jabalpur-based buyer stated, “We will resume purchases after our existing orders are completed. Prices are likely to remain stable, with a possibility of a slight correction.”

A Jabalpur-based seller said, “We are focusing on dispatching previous orders. New orders will come after those are complete. We are also waiting for the outcome of the Odisha Mining Corporation (OMC) auction. Accordingly, we will decide prices.”

A Jabalpur-based seller echoed these same sentiments. The supplier highlighted that their immediate focus remains on clearing and dispatching the previously booked orders. Only after fulfilling these commitments will they look into fresh bookings. Furthermore, the seller emphasised that any revisions or decisions regarding new price levels will largely depend on the outcome of the upcoming OMC iron ore auctions, as those results will provide better clarity on market direction.

Rationale

• One (1) trade was recorded in the publishing window, which was taken into consideration, receiving 50% weightage.
• Eight (8) offers and indicative prices were heard, of which six (6) were taken into consideration as T2 trades, receiving 50% weightage.

Factors affecting iron ore concentrate prices

• Pellet prices remain flat in Raipur: BigMint’s bi-weekly domestic pellet (Fe63%) index for Raipur remained stable at INR 10,300/t ($117/t) DAP on 16 September 2025 compared to the previous assessment on 12 September. Trading activity stayed limited, as sellers held firm on offers despite weak buying interest from steelmakers. Market participants noted that buyers largely remained cautious, procuring material only on a need basis.
• Odisha iron ore fines prices remain firm w-o-w: BigMint’s Odisha iron ore fines (Fe 62%) index remained stable w-o-w at INR 5,500/t ($62.5/t) ex-mines on 13 September 2025, with limited trades at prevailing offers. Miners largely catered to regular buyers, while dispatches improved as the monsoon impact eased. Sources expect production and dispatch to return to normal levels in the coming days.

Outlook

Iron ore concentrate prices are expected to remain stable in the near term, supported by firm pellet and Odisha iron ore markets. The upcoming OMC auction will be crucial in providing price direction and market clarity. Overall, buying may stay need-based until clearer signals emerge post-auction.