Odisha: Serajuddin Mines reduced lump prices by INR 150/MT in beginning of Jun’16. While other merchant miners choose to hold back the prices at similar levels. However as per trade sources, dispatches of both fines & lump are weak on the backdrop of falling sponge iron prices which may lead to iron ore price fall in the 2nd half of the month.
Odisha iron ore prices
|
Miner |
Size (mm) | Grade (Fe%) |
Prices in INR/MT |
| Rungta Mines (Joda)* | 5-18 | 62 | 2,650 |
| 10-30 | 62 | 2,500 | |
| Fines | 63 | 1,550 | |
| Serajuddin Mines | 5-18 | 63 | 2,000 |
| Fines | 63 | 1,300 | |
| Essel Mining (Koira) | 5-18 | 62 | 2,150 |
| 10-30 | 61 | 1,500 | |
| Fines | 63 | 1,175 | |
| KJS Ahluwalia | 5-18 | 63 | 2,225 |
| 10-30 | 61 | 2,000 | |
| Fines | 63 | 1,100 | |
| Kaypee Enterprises | 5-18 | 63 | 2,150 |
| 10-30 | 62 | 2,000 | |
| Fines | 63 | 1,150 | |
| Indrani Patnaik | 5-18 | 63 | 2,150 |
| 10-30 | 62 | 2,050 | |
| Fines | 62 | 1,250 |
Ex-mines prices in INR/MT
*Prices as per loaded to wagons & inclusive of Royalty, DMF & NMET
Source: SteelMint Research
Trade-wise:
- KMC iron ore prices are as follows- 5-18 mm (Fe 62%)-INR 1,900/MT, 10-30 mm (Fe 62%)-INR 1,700/MT, fines (Fe 62%)-INR 1,100/MT and fines (Fe 57%)- INR 750/MT (ex-mines prices & inclusive of Royalty & DMF)
- Trade sources mentioned that KN Ram mines has cut lump prices by INR 150/MT and fines prices continue to remain stable. 5-18 mm (Fe 63%)-INR 2,350/MT and fines (Fe 63%) – INR 1,400/MT (Prices in INR/MT are loaded to wagons & including Royalty and DMF)
Royalty on fines reduces in latest IBM price circular – In the recently published circular of average sale price of iron ore, IBM has reduced royalty on fines. Royalty on fines (Fe 62% to below Fe 65%) has fallen from INR 192/MT to INR 177/MT. In case of lump, IBM has reduced royalty on few grades while increased on other grades. Royalty on lump (Fe 62% to below 65%) has moved up from INR 285/MT to INR 307/MT.
Chhattisgarh: NMDC reduced iron ore prices by 10-12% M-o-M in Jun’16. Fall in sponge iron prices in central India has resulted in price cut of the miner.
NMDC Iron Ore Prices for Jun’16
|
Size |
Grade (Fe %) | Prices | Change | |
| (in INR/MT) |
(in %) |
|||
| 10-40 mm, DR CLO | 67 | 2,070 | -230 | -10% |
| Baila lump , 6-40 mm | 65 | 1,800 | -200 | -10% |
| ROM, 10-150 mm | 65 | 1,620 | -180 | -10% |
| Blue Dust/ Fines | 64 | 1,460 | -200 | -12% |
Prices w.e.f 02 Jun’16 in INR/MT excluding DMF@30% of royalty
Royalty@15% and other taxes extra
Source: SteelMint Research
Goa: No iron ore e-auction is expected to take place in the coming 2-3 months on the backdrop of monsoon season.
Karnataka: Base prices in Karnataka e-auctions remained stable in Jun’16.
NMDC- Base prices of lump (Fe 65.2%) offered by NMDC Donimalai mines stood at INR 2,184/MT (basic). Base prices of fines (Fe 57.1%) stood at INR 1,185/MT and for lump (Fe 63.7%) stood at INR 1,856/MT (basic) of NMDC Kumaraswamy mines.
Private miners- Base prices for fines (Fe 65%) offered by Vyasankere mines remained at INR 2,025/MT (basic) and bid prices stood in the range of INR 2,115-2,125/MT (basic). Bid prices for lump (Fe 65%) are seen hovering in the range of INR 2,155-2,165/MT. Bid prices of Sesa Sterlite’s lump (Fe 60%) stood at INR 1,421/MT (basic).
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