Weak demand from Indian sponge (DRI) manufacturers have weighed up on iron ore prices in Odisha. Large miners make further cuts this week reported sources.This is fourth consecutive cut in last 3 months.
“There is certainly a downtrend, power crisis has also reduced demand for sponge iron across country.Good availability of iron pellets and improved supply of iron ore have further slowed down the demand for iron ore.” said a senior official at one of the primary sponge manufacturer.
Rungta Mines Ltd has cut prices by Rs 200/t in all grades and sizes w.e.f 17th Sep 2012
Current offers stand at
JAJANG MINES
5-18mm (Fe 65%)=Rs 7,650/t
5-18mm (Fe 63%)=Rs 7,250/t
10-30mm (Fe 65%)= Rs 6,900/t
10-30mm (Fe 63%)=Rs 6,500/t
KOIRA
5-18mm (Fe 62.5%)= Rs 6,800/t
10-30mm (Fe 62%)= Rs 6,200/t
JHARKHAND SECTOR
5-18mm (Fe 62%)= Rs 6,700/t
-All prices loaded to wagons, including royalty.
-Taxes as applicable.
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