Odisha: Merchant iron ore miners in Odisha kept iron ore prices unchanged amid limited trade activities over holidays and decline in sponge iron prices towards the end of Oct’16.
IBM increases royalty on fines (Fe 55-58%) in latest price circular – In the latest average sale price circular of Aug’16 for all minerals released by IBM, royalty on fines (Fe 55-58%) has increased to INR 118.05/MT which was INR 102.75/MT in Jul’16. Royalty on lump of all grades has been reduced in Aug’16.
Odisha iron ore prices as on 11 Nov’16
|
Miner |
Size (mm) | Grade (Fe%) |
Prices in INR/MT |
| Rungta Mines (Joda)* | 5-18 | 62 | 3,300 |
| 10-30 | 62 | 3,150 | |
| Fines | 63 | 1,750 | |
| Serajuddin Mines | 5-18 | 63 | 2,500 |
| Fines | 63 | 1,200 | |
| Essel Mining (Koira) | 5-18 | 62 | 2,700 |
| 10-30 | 61 | 2,600 | |
| Fines | 63 | 1,150 | |
| KJS Ahluwalia | 5-18 | 63 | 2,650 |
| 10-30 | 61 | 2,550 | |
| Fines | 63 | 1,250 | |
| Kaypee Enterprises | 5-18 | 63 | 2,550 |
| 10-30 | 62 | 2,450 | |
| Fines | 63 | 1,260 | |
| Indrani Patnaik* | 5-18 | 63 | 2,850 |
| Fines | 62 | 1,550 |
Ex-mines prices in INR/MT
*Prices as per loaded to wagons & inclusive of Royalty, DMF & NMET
Source: SteelMint Research
Chhattisgarh – NMDC rolled over iron ore prices for Nov’16 deliveries.
NMDC iron ore prices for Nov’16
|
Size |
Grade (Fe %) | Prices |
M-o-M |
| 10-40 mm, DR CLO | 67 | 2,420 | = |
| Baila lump , 6-40 mm | 65 | 2,100 | = |
| ROM, 10-150 mm | 65 | 1,890 | = |
| Blue Dust/Fines | 64 | 1,760 | = |
F.O.R prices in INR/MT
Royalty, DMF, NMET & other taxes extra
Source: SteelMint Research
Goa: No iron ore e-auction has been conducted so far in this month. Last month, Goa witnessed two iron ore e-auctions in which base prices for all material types and across all grades remained flat at INR 500/MT. Majority of the lots fetched flat bids while for some lots bids went higher.
Karnataka – NMDC kept base prices unchanged for Nov’16 e-auctions. Base prices of lump (Fe 62.2%) offered by NMDC Donimalai mines stood at INR 2,286/MT and fines (Fe 60.2%) at INR 1,899/MT. Base prices for NMDC Kumaraswamy mines are currently as follows: fines (Fe 60%) stood at INR 1,678/MT and lump (Fe 62.3%) stood at INR 2,096/MT.
Talking about private miners – Chowgule & Company has kept base prices unchanged against last month in the e-auctions conducted so far in this month. Base prices for fines (Fe 58.1%) is at INR 1,525/MT. However B Rudra Gouda which had not increased fines prices in Oct’16 has raised prices in Nov’16. Base prices of fines (Fe 63.4%) stood at INR 1,795/MT in Oct’16 e-auctions which increased to INR 2,155/MT for Fe 63.5% fines in Nov’16.
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