Odisha:
- Iron ore production in Odisha fell by 22% M-o-M to 4.21 MnT (excluding production of SAIL-Bolani) in July’15 owing to monsoon
- Transport strike in Sundargarh and Keonjhar districts of Odisha bought iron ore movement to a halt. Odisha based transporters went on an indefinite strike on 20 July’15 which is unresolved yet. Transporters are opposing state governmentt’s decision of fixing a ceiling on mineral transportation charges
- Odisha based merchant miners have kept iron ore prices unchanged as of now. There are chances of Odisha based miners cutting lump prices further next month as demand for iron fines continues to remain decent, while bookings for lump remain weak
Odisha Iron Ore Prices as on 27 July’15
|
Miner |
Size | Grade (Fe %) | Prices in INR/MT | |
| Ex-Mines |
Loaded into wagons |
|||
| Rungta Mines | 5-18 mm | 65 | No Offers | |
| 5-18 mm | 63 | – | 4,950 | |
| 10-30 mm | 65 | – | No Offers | |
| 10-30 mm | 63 | – | 4,300 | |
| Fines | 63 | – | 2,250 | |
| Fines | 60 | – | 1,800 | |
| Essel Mining (Koira) | 10-30 mm | 61 | 2,850 | – |
| 5-18 mm | 62 | 3,850 | – | |
| 30-80 mm | 61 | 2,500 | – | |
| Serajuddin Mines | 5-18 mm | 63 | 3,550 | 4,000 |
| Fines | 63 | 1,600 | 2,050 | |
| Indrani Patnaik | Fines | 63 | – | 1,850 |
| KJS Ahluwalia | 5-18 mm | 63 | 3,800 | 4,250 |
| 10-30 mm | 62 | 3,000 | 3,450 | |
| Fines | 63 | 1,700 | 2,150 | |
| Kaypee Enterprises | 5-18 mm | 63 | 3,600 | 3,950 |
| 10-30 mm | 62 | 3,000 | 3,350 | |
| Fines | 63 | 1,700 | 2,050 | |
| K N Ram | 5-18 mm | 63 | 3,800 | 4,150 |
| Fines | 63 | 1650 | 1,950 | |
| KMC | 5-18 mm | 62-63 | 3,450 | – |
| 5-18 mm | 60-61 | 2,850 | – | |
| 10-30 mm | 60-61 | 3,050 | – | |
| Fines | 62 | 1,550 | – | |
| Fines | 60 | 1,050 | – | |
Prices including royalty
Source: SteelMint
4. Odisha based merchant miners had cut lump prices by INR 100-350/MT in last week of June’15, while fines prices were kept untouched. Further reduction in lump prices will increase difficulty for pellet makers as lump might become a substitute of pellet for sponge manufacturers
Karnataka:
- Iron ore e-auctions in Karnataka received a moderate response in July’15. Out of 3.16 MnT iron ore offered in July’15 (till 22nd July’15), 1.55 MnT iron ore has been sold. Of the allotted quantity, NMDC’s share was 45% (0.69 MnT) and the remaining share was of private mines
- Base and bid prices of lump offerd by private miners remained stable. Similar to June’15, bid prices of lump (Fe 60.5%) offered by Sesa Sterlite remained firm at INR 2,000/MT. However, some private miners have reduced fines prices this month. For instance, base price for fines (Fe 59%) offered by SMIORE was at INR 1,170/MT in June’15 which has come down to INR 950/MT in July’15
- Recently, NMDC started offering calibrated lump ore (CLO) in smaller lots of 1,000 MT. Sponge manufacturers in southern India who used to find it difficult to procure smaller lots will be benefitted through this
Goa:
- Department of Mines & Geology (Govt. Of Goa) is to conduct 7th iron ore e-auction on 04 Aug, 2015. 1 MnT iron ore (0.70 MnT ROM, 0.27 MnT fines & 0.04 MnT lump ) lying at different jetties and mines would be offered in 16 lots via e-auction
- Market expects mining operations in Goa to resume in full swing by Oct’15, which are currently hampered because of prevailing monsoons
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