Odisha’s largest merchant Iron ore miners namely Rungta Mines & Essel Mining have held its offers unchanged for the month of August, 2014 (prices are reviewed fortnightly).
Rungta Mines and Essel Mining, Odisha’s largest merchant miners, together have an annual production capacity of over 20 MnT.
“Decline in the domestic steel demand has led to reduction in finished steel prices in turn affecting the Iron ore prices. This has compelled us to rollover the prices for first half of August, 2014,” quoted an official from Rungta Mines.
Indrani Patnaik is overbooked so hold on their Iron ore offers. Serajuddin Mines has followed the suit.
Rungta Mines Iron Ore Prices
|
Place |
Size (mm) |
Grade |
Fe (%) |
Prices |
|
Joda |
5-18 |
DR |
65 |
7,100 |
|
5-18 |
DR |
63 |
6,800 |
|
|
10-30 |
BF |
65 |
6,450 |
|
|
10-30 |
BF |
63 |
6,050 |
|
|
Fines |
– |
63 |
2,950 |
|
|
Fines |
– |
60 |
2,300 |
|
|
Koira |
5-18 |
DR |
62 |
6,150 |
|
10-30 |
BF |
62 |
5,550 |
|
|
Fines |
– |
62 |
3,050 |
|
|
Fines |
– |
60 |
2,400 |
Prices in INR/MT, including royalty
Prices are as per loaded to wagons
Source: SteelMint Research
Indian Pellet Prices Stable on Low Volumes: Indian Pellet prices have managed to remain at previous levels on low trade volumes. In spite of weak demand from Sponge iron manufacturers, Pellet manufacturers prefer to hold on their offers.
Fall in Sponge Iron Prices: Sponge manufacturers are under pressure over short supply of Iron ore along with rising Coal prices in domestic market. Indian Sponge iron (C-DRI) prices have fallen by INR 150-1,700/MT (M-o-M).
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