India’s largest merchant iron ore producer – Rungta Mines has today announced a price hike of about INR 400/MT in lump and INR 200/MT in fines. Odisha iron ore prices are witnessing strength owing to increase in sponge iron prices, transportation issues over less rake availability and temporary fall in supplies that may result from Serajuddin Mines whose lease renewal is due on 02 Dec’17.
The miner had last revised prices on 22 Aug’17, since then prices have remained stable.
Rungta Mines is India’s largest private merchant miner. So far in FY18 (till Oct’17) the miner has produced 12.67 MnT iron ore
Rungta Mines iron ore prices
|
Size |
Grade (Fe %) | Prices in INR/MT |
Change |
| 5-18 | 62 | 4,500 | +400 |
| 10-30 | 62 | 4,150 | +400 |
| Fines | 63 | 2,050 | +200 |
Prices mentioned are loaded to wagons & incld Royalty, DMF & NMET wef 30 Nov’17
GST@5% extra
Source: SteelMint Research
Other miners like KJS Ahluwalia and Kaypee Enterprises have also raised prices with effect from today up to INR 400/MT.
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