India: Iron ore concentrate prices rise by INR 100/t ($1/t) amid positive market sentiment

• Tight supply, active export demand boost price
• PELLEX inches up by INR 50/t on rising steel tags

India’s iron ore concentrate (Fe 62%) prices stood at INR 4,650/tonne (t) ($52/t) ex-works Jabalpur today, as per BigMint’s bi-weekly assessment, marking a modest uptick of INR 100/t ($1/t) from the previous evaluation on 1 November 2025. Deals for a significant volume were reportedly concluded at this level, indicating improved buying interest amid a slight recovery in market sentiment.

Meanwhile, Fe 63% concentrate was actively traded in the range of INR 4,800-5,100/t ($54-58/t) ex-works, with multiple deals finalised within this band, reflecting healthy market participation and steady demand from pellet producers.

Commenting on the market dynamics, a Jabalpur-based seller told BigMint, “We have already booked orders for the next month; new prices will be decided once these deliveries are complete.”

Another seller from the region remarked, “There is hardly any supply in the market following the rains, as logistical disruptions and mine slowdowns have tightened availability across Odisha. Moreover, a severe shortage of high-grade material is being witnessed throughout the region, further intensifying supply-side constraints. Adding to this, exporters have turned increasingly active, which has lent strong support to concentrate prices.”

In contrast, a Jabalpur-based buyer shared a more cautious outlook, telling BigMint, “We are waiting for price corrections before concluding any new deals.”

Rationale

• One (1) trade was recorded in this publishing window and was considered under T1 trade. These were accorded 50% weightage.
• Nine (9) offers and indicative prices were heard, and six (6) were taken into consideration as T2 trades, receiving 50% weightage.

Factors supporting iron ore concentrate prices

Pellet prices inch up in Raipur: PELLEX, BigMint’s bi-weekly domestic pellet (Fe63%) index for Raipur, rose by INR 50/t to INR 10,000/t ($113/t) DAP on 4 November 2025 compared to the previous assessment on 31 October. The Raipur pellet market witnessed steady activity, with improved sentiment following the recent uptick in downstream steel prices, though cautiousness persisted. While inquiries from sponge iron producers increased, most buyers limited purchases to immediate requirements, awaiting clearer demand signals.

Odisha iron ore prices stable w-o-w: BigMint’s Odisha iron ore fines (Fe 62%) index remained firm w-o-w at INR 5,300/t ($60/t) ex-mines as of 1 November 2025. Market activity picked up as several miners in Odisha resumed their offers, and a few bulk deals were reportedly concluded during the week. These transactions bolstered market confidence, with participants indicating that buyers are actively securing material for November requirements to ensure consistent raw material availability amid expectations of stable steel demand.

Outlook

In the near term, iron ore concentrate prices are likely to remain supported by persistent supply constraints and active export demand, particularly for high-grade material. However, buying activity may stay cautious as sponge iron and steel producers continue to assess demand recovery.