Following the suite, another major Odisha based merchant miner has cut iron ore prices. Serajuddin Mines has reduced lump prices by INR 300/MT and fines prices by INR 150/MT.
Serajuddin Mines occupied a share of 12% in Odisha’s iron ore production for FY17 and remained Odisha’s 2nd largest merchant iron ore producer. Its output was recorded at 10.89 MnT in FY17 against 10.15 MnT in previous fiscal.
Odisha iron ore prices have come under pressure post sharp decline in pellet and sponge prices in east India. Low demand in the market has resulted in decline in Odisha iron ore offers.
Yesterday, other major merchant miners namely – Rungta Mines, KJS Ahluwalia and Kaypee Enterprises had also cut iron ore prices.
Odisha iron ore prices as on 09 May’17
|
Mines Name |
Size | Grade (Fe %) | Current Prices |
Change |
| Serajuddin Mines | 5-18 | 63 | 3,100 | -300 |
| Fines | 63 | 1,350 | -150 | |
| Rungta Mines* | 5-18 | 62 | 4,000 | -300 |
| 10-30 | 62 | 3,650 | -300 | |
| Fines | 63 | 1,725 | -100 | |
| Essel Mining | 5-18 | 62 | 3,450 | -300 |
| 10-30 | 61 | 3,350 | -300 | |
| Fines | 63 | 1,275 | -150 | |
| KJS Ahluwalia | 5-18 | 63 | 3,350 | -300 |
| 10-30 | 61 | 3,100 | -250 | |
| Fines | 63 | 1,400 | -125 | |
| Kaypee Enterprises | 5-18 | 63 | 3,250 | -300 |
| 10-30 | 62 | 3,000 | -250 | |
| Fines | 63 | 1,410 | -125 |
Ex-mines prices in INR/MT, including Royalty, DMF & NMET
*loaded to wagons
Source: SteelMint Research
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