Private iron ore miners based in Odisha likely to review their monthly prices on 10th January 2013, after scheduled meeting with state government on mandatory sale of 50% iron ore (lumps and fines) to standalone mineral based industries in the state.
Market experts highlight that with compulsory sale, it has become difficult for miners to get orders in the right proportion.”We sell 70-80% of our production to sponge plants based out of Odisha. It has been difficult for us to get orders from local industries as requirement is not that big. This will lead to cut in production.” said a miner based in Odisha.
Current offers for 63% Fe are in the range of Rs 6000/t (Ex Mines Barbil, 5-18mm, 63% Fe, Royalty Paid).
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