Despite possibility of Iron ore mining ban looming in Odisha, India’s largest Iron ore mining state, miners have not lifted prices.
Talking to miners and Sponge iron manufacturers, SteelMint reviewed that present prices are floating in the range of INR 5,000-5,600/MT (loaded) for Fe 63/62 & 5-18 mm sized ore. Fe 63 fines is at INR 2,400-2,500/MT (loaded).
Rungta Mines is the leading miner with nearly 12 MnT pa total productions from its mines in the states of Odisha and Jharkhand.
|
Rungta Mines Iron ore Prices |
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|
Place |
Size |
Grade |
Delivery |
Prices (INR/MT) |
|
Joda |
10-30 mm |
65 |
Loaded |
5,950 |
|
10-30 mm |
63 |
Loaded |
5,550 |
|
|
5-18 mm |
65 |
Loaded |
6,600 |
|
|
5-18 mm |
63 |
Loaded |
6,300 |
|
|
Koira |
5-18 mm |
62 |
Loaded |
5,650 |
|
10-30 mm |
62 |
Loaded |
5,050 |
|
|
5-30 mm |
58/59 |
Loaded |
3,300 |
|
|
5-30 mm |
58/59 |
Ex-mines |
2,800-2,900 |
|
|
Fines |
63 |
Loaded |
2,450 |
|
Joda includes mines in Jajang & Koira includes mines in Sanindpur, Nadidih (BICO), Nadidih (FEEG), Oraghat
Prices including Royalty
Source: SteelMint Research
Another large miner from similar region is offering Fe 63 & 5-18 mm sized ore at INR 5,600/MT (loaded).
In communication with Sponge iron manufacturers, SteelMint identified that there is lack of clarity concerning pending Supreme Court’s judgement, but no panic, as they have preferred to wait-and-watch and have ample stockpile to last for almost a month.
Recently, Odisha based Iron Pellet manufacturers have resumed sales; had been holding prices for a while. However, buying interest has been limited at prevailing prices i.e. INR 6,900-7,000 /MT (loadded to wagons at Barbil) & INR 7,100-7,250/MT (ex works Jharsuguda).
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