Indian miners might raise iron ore lumps prices on improved demand

Rising scrap prices in international and Indian market, falling rupee; which has made import of scrap further expensive.these are few factors which might make miners to raise their ore prices.

” Iron ore demand has certainly improved over few months mainly because unavailability in domestic markets and expensive imports of scrap has forced manufacturers to switch to sponge.

We are over booked for next few months and might consider a price hike in near term.” said a large Indian miner based in Orissa.