Iron ore prices in India’s largest iron ore producing state are as it is as of now for the private miners as sources reported.
India’s largest merchant iron ore producer – Rungta Mines, Serajuddin Mines and others like KJS Ahluwalia and Kaypee Enterprises has shown no indication of any increment in their current iron ore prices until SteelMint last spoke to our resources till date.
However in the month of August the Odisha miners had increased the Lump prices by upto INR 600/MT and Fines prices by up INR 300/MT. The price hike was due to the considerable increase in sponge prices last month. The shortage of sponge due to reduced production has been pushing its prices up lately.
Odisha Mines iron ore prices as on 2nd Sep, 2017
| Mine | Size, Grade, Origin | Prices |
| Rungta Mines* | Fines, Fe 63% | 1,850 |
| 10-30 mm, Fe 62% | 3,750 | |
| 5-18 mm, Fe 62% | 4,100 | |
| Serajuddin | 5-18 mm, Fe 63% | 3,200 |
| Fines, Fe 63% | 1,400 | |
| KJS Ahluwalia | 5-18 mm, Fe 63% | 3,450 |
| Fines, Fe 63% | 1,425 | |
| 10-30 mm, Fe 61% | 2,800 | |
| Kaypee Enterprises | 5-18 mm, Fe 63% | 2,950 |
| Fines, Fe 63% | 1,425 | |
| 10-30 mm, Fe 62% | 2,700 |
*Loaded to wagons in INR/MT & incld Royalty, DMF & NMET
Ex-mines prices INR/MT & incld Royalty, DMF & NMET
GST@5% extra
Source: SteelMint Research
Odisha Mining Corporation (OMC), a state-owned miner has scheduled its next e-auction on 7 Sept’17 for 292,000 MT iron ore fines. The material to be put under hammer is from Gandhamardan, Daitari and Koira mines.
The miner has kept iron ore fines base prices unchanged for the material offered from Gandhamardan and Koira mines. However base prices for material offered from Daitari mines has come down by INR 100/MT.
India’s largest iron ore producing state – Odisha which contributes nearly 50% share in country’s ore output. State’s iron ore production climbed to all time high in FY17. The output increased from 75.75 MnT in FY16 to 94.17 MnT in FY17. State captive iron ore production escalated by 17% Y-o-Y while merchant iron ore production moved up by 27% Y-o-Y in FY17. Odisha iron ore production has exhibited sharp increase of 24% Y-o-Y in FY17.
The merchant iron ore producers in Odisha, Rungta Mines remained the largest producer and registered increase of 30% Y-o-Y to 22.87 MnT in FY17. Other major merchant iron ore producers were Serajuddin Mines – 10.89 MnT (up 7% Y-o-Y) and KJS Ahluwalia – 5.61 MnT (up 39% Y-o-Y).
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