India: JSW cuts iron ore fines prices by INR 900/t

JSW Steel has cut iron ore fines offers by around INR 900/t. Decline in pellet prices and lower bids have kept offers under pressure. Revised prices:

• Iron ore lump (5-18mm, Fe 62% crushed): INR 11,200/t
• Iron ore lump (10-40mm, Fe 62% crushed): INR 11,000/t
• Iron ore fines (Fe 62%): INR 4,400/t

Prices are ex-mines, plus royalty and statutory cesses, and subject to availability of material.