Odisha based merchant miner-KJS Ahluwalia has reduced iron ore prices w.e.f 19 Apr’16. Fines prices have fallen by INR 125/MT while lump prices have been cut by INR 50-75/MT. It had last revised its prices in beginning of Mar’16. Since then prices remained unmoved.
Another miner, Kaypee Enterprises reduced fines prices by INR 100/MT and kept lump prices unchanged.
KJS Ahluwalia & Kaypee Enterprises iron ore prices
|
Miner |
Size (mm) | Grade (Fe %) | Prices |
Change |
| KJS Ahluwalia | 5-18 | 63 | 2,275 | -75 |
| 10-30 | 62 | 2,150 | -50 | |
| Fines | 63 | 1,150 | -125 | |
| Kaypee Enterprises | 5-18 | 63 | 2,200 | 0 |
| 10-30 | 62 | 2,100 | 0 | |
| Fines | 63 | 1,175 | -100 |
Ex-mines prices in INR/MT w.e.f 19 Apr’16
Prices inclusive of Royalty, DMF & NMET
Source: SteelMint Research
Other Odisha based merchant miners have kept prices unchanged as of now.
Fines prices in Odisha may further come under pressure-
Also towards the beginning of this month Odisha High Court ordered Jindal Steel & Power (JSPL) to lift its iron ore stocks of nearly 10 MnT (majorly fines) lying at Sarda mines. JSPL is a major pellet maker and had to source iron ore from Odisha merchant miners to fulfill its requirement. The steel maker has not yet started lifting iron ore stocks but once it starts lifting the stocks, fines prices in Odisha may further come under pressure.
Another reason that may force miners to cut fines prices is sufficient amount of fines inventory lying at the mines. Limited buying interest in pellets from domestic sponge iron manufacturers has compelled the pellet makers to reduce their operational capacities following which fines procurement has suffered a setback.
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