Odisha Government notified that movement of trucks are suspended till 20 Apr, 2014 in order to ensure smooth polling in General Elections to be conducted in 2-phase (10-17 Apr, 2014).
With this circular, movement of Iron ore will come to a standstill expect to miners or Pellet manufacturers having their own railway siding.
Odisha, a big supplier of Iron ore to Central, Eastern & West India, is now facing transportation problem. Industry participants mentioned that supply will hit temporarily till government gives some relaxation.
Sponge Iron Manufacturers raised Offers in Central & Eastern Region
Sponge iron manufacturers based in Central & Eastern belt of India, have raised offers by INR 100-300/MT, anticipating weak supply of Iron ore & Sponge iron from Odisha. Current offers in Raipur (Chhattisgarh) are at INR 21,300-21,400/MT, Raigarh at INR 20,300/MT, Rourkela at INR 19,000/MT and Durgapur at INR 20,400/MT.
“Supply of Iron ore and Pellet from Barbil (Odisha), has come come to a stand still situation. This seems to be a temporary issue, but certainly it has impacted Sponge iron prices.” said a manufacturer based in Eastern region of India.
In similar lines Sponge pellet (P.DRI) Prices in Raipur also increased by INR 400/MT from yesterday’s trade. Manufacturers continue to raise offers primarily on anticipation of restricted supply of iron ore from Odisha and secondly peak season for construction activities in India.
Note: Mentioned Prices are Basic (EXW) on advance Payment Basis.
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