Odisha based Serajuddin Mines has reduced Iron ore lump prices by INR 600/MT and fines prices by INR 500/MT.
Serajuddin Mines, an Indian merchant miner, has reduced Iron ore prices by upto INR 600/MT. The miner has cut offers on the following grounds:
1. Consistent fall in Finished Goods Prices: Finished Long & Flat steel prices continued to decline and have corrected by upto INR 1,500/MT M-o-M.
2. Fall in Global Iron Ore Prices: Spot Iron ore prices in China have breached five-and-half years low and corrected further by USD 2-3/MT on 26 Jan, 2015.
Serajuddin Mines Iron Ore Prices
| Size | Grade | Prices | Change |
| 5-18 mm | 63 | 5,350 | – 600 |
| Blue Dust/Fines | 63 | 2,550 | – 500 |
Prices in INR/MT; as per loaded into wagons; including royalty
Source: SteelMint Research
Odisha based major miners namely Rungta Mines & Indrani Patnaik have been seen reducing Iron ore prices on the backdrop of subdued demand and increased supply of Iron ore.
Leave a Reply