Indian Iron Ore fines traders raise offers

Indian iron ore traders have raised their offers in domestic markets on high spot prices in Chinese markets, weak rupee and high truck freight charges to Indian ports.

” Looking at higher freight charges we have also raised our offers for iron ore fines. Truck freight has gone up by Rs 50-100/t. Currently Raipur to Vizag port is around Rs 1,250- 1,300/t which was 1,150 few weeks back.” said a local iron ore fines trader based in Raipur.

Offers for domestic iron ore fines on Indian ports have also increased by Rs 100-150/t.

50 % Fe rejection iron fines is heard to be traded at Rs 2,150/t

54 % Fe rejection iron fines offered at Rs 2,700-2,750/t

58 % Fe rejection fines offered at Rs 3,300/t

60 % Fe fines trades at Rs 3,700/t

Note: All prices F.O.R Vizag Port

ODISHA:

“Miners in Odisha kept Iron Ore fines prices unchanged, though movement to Paradip and Haldia ports have improved in last few days. Few more merchant exporters have started movement to these ports through rail.” said sources based in Barbil (Odisha).

Currently 63% Fe offers are around Rs 2,250-2,400/t (Ex Mines, Incld Royalty.Taxes Extra). Where as rail freight to Paradip and Haldia ports is around 2,400/t.