Indian private miners based in Odisha, have preferred to keep their prices unchanged for mid- January on low production, confusion on 50:50 sale of Iron Ore to industries based in Odisha and stable sponge iron prices in the country.
“Miners like Rungta and Essel have preferred to keep their prices unchanged over the fact that most of the mines are still not operating and miners claim that with compulsion on 50:50 sale of iron ore, production has further reduced as most of their market lies out of Odisha. Current offers for 63% Fe from Joda sector is around Rs 7,250/t (Rungta Mines, FOR Siding, 5-18mm, Including royalty).” said an iron ore trader based in Bhubaneshwar (Odisha).
He further mentioned that most of mines based in Koira sector are operating and offers are slightly low.
NMDC , India's largest iron ore producer likely declare its prices in first week of February, which will further give direction to the market.
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