Odisha’s largest merchant Iron ore miners namely Rungta Mines & Essel Mining have kept their offers unchanged for the month of October, 2014. While, prices have increased marginally in Jharkhand (prices are reviewed fortnightly).
- Rungta has raised Iron ore fines prices from Jharkhand mines by INR 200-250/MT, while, it kept Odisha prices unchanged. 63% Fe fines at INR 3,750/MT (as per loaded to wagons at Jharkhand) and INR 3,300/MT (as per loaded to wagons at Odisha)
- Essel Mining’s Iron ore prices remain unchanged. Company’s largest mine located in Jilling Langalota (Barbil), still remain close. Also, production from its Koira Iron ore mines has reduced
- Indrani Patnaik’s last trade for screened 5-18 mm was heard to be settle at around INR 5,500/MT; as per loaded to wagon for Fe 61%
- Serajuddin Mines still remains closed
- Market participants believe that other mines may start in Odisha probably by October-end or November 1st week in 2014
- OMC Iron ore lumps tender for sale of 61,500 MT material from its various mines has fetched bids higher by INR 300-2,000/MT
- Prakash Industries bids 10-40 mm (Fe 62%) at INR 6,209/MT for Iron ore of OMC (Koira), which was last sold at INR 4,250/MT ex-mines (including royalty)
- Imports breached to 3 MnT during April-September, 2014. Steel giants are importing Iron ore owing to acute raw material shortage prevailing in the domestic market
Leave a Reply