KJS Ahluwalia, an Odisha based merchant miner, has cut lump (5-18 mm) prices by INR 200/MT and fines prices by INR 50/MT. Market sources say that despite lump prices witnessing considerable reduction compared to fines few weeks earlier, buyers interest has yet not picked up. There are considerable inventories of the material with the miners, which has lead to further reduction in prices.
Also, miners are facing pressure from the state govt. to enhance production (within approved EC limits) and dispatches of iron ore to fulfill laid targets.
KJS Ahluwalia Offers
Size |
Grade | Prices |
Change |
| 5-18 mm | 63 | 3,000 | – 200 |
| 10-30 mm | 62 | 2,550 | 0 |
| Fines | 63 | 1,450 | -50 |
Ex-mines prices; inclusive of royalty
Source: SteelMint Research
Kaypee Enterprises Offers
|
|
Grade |
Prices |
|
| 5-18 mm | 63 | 2,700 | -300 |
| 10-30 mm | 62 | 2,550 | 0 |
| Fines | 63 | 1,500 | -50 |
Ex-mines prices; inclusive of royalty
Source: SteelMint Research
KMC also cuts iron ore prices
Another Odisha merchant miner-Kalinga Mining Corporation has also reduced prices.
| Size | Grade | Prices | Change |
| 5-18 mm | 61-62 | 2,800 | -650 |
| 10-30 mm | 60-61 | 2,600 | -450 |
| Fines | 60 | 800 | -250 |
Ex-mines prices; inclusive of royalty
Source: SteelMint Research
Price gap between lump and fines has narrowed down owing to comparatively greater reductions in lump prices than those of fines . Currently in Odisha, the offers for 5-18 mm (Fe 63%) are at INR 2,700-3,000/MT, 10-30 mm (Fe 61%) are at INR 2,150/MT and fines (Fe 63%) are in the range of INR 1,400/MT. (Prices mentioned are ex-mines & inclusive of royalty)
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