Odisha based merchant miner-KJS Ahluwalia has recently reduced iron ore prices. Lump prices have moved down by INR 50-150/MT and fines prices have fallen by INR 50/MT. It had last revised its prices on 19 Apr’16 when it had cut prices by upto INR 125/MT.
Another miner Kaypee Enterprises has also reduced lump prices by INR 50-100/MT and fines prices by INR 25/MT.
KJS Ahluwalia & Kaypee Enterprises iron ore prices
|
Miner |
Size (mm) | Grade (Fe %) | Prices in INR/MT | Change | |
| Current |
Previous |
||||
| KJS Ahluwalia | 5-18 | 63 | 2,225 | 2,275 | -50 |
| 10-30 | 61 | 2,000 | 2,150 | -150 | |
| Fines | 63 | 1,100 | 1,150 | -50 | |
| Kaypee Enterprises | 5-18 | 63 | 2,150 | 2,200 | -50 |
| 10-30 | 62 | 2,000 | 2,100 | -100 | |
| Fines | 63 | 1,150 | 1,175 | -25 | |
Ex-mines prices in INR/MT w.e.f 16 May’16
Prices inclusive of Royalty, DMF & NMET
Source: SteelMint Research
Odisha iron ore prices have come under pressure post price reduction by NMDC and declining sponge iron prices.
Eastern India sponge iron prices down by upto INR 400/MT in a week’s time
Sponge iron prices in eastern India have fallen by upto INR 400/MT W-o-W. While C-DRI prices have fallen by INR 350-400/MT W-o-W, P-DRI prices have declined by INR 250/MT. Currently C-DRI prices of 78 FeM are at INR 11,050/MT in Durgapur and INR 10,300/MT in Rourkela (ex-works). P-DRI prices are currently assessed at INR 10,000/MT (ex-works) in Durgapur for 78 FeM.
On the backdrop of high production cost and declining domestic prices of sponge iron may compel sponge iron manufacturers to curtail production. This has also put Odisha iron ore prices under pressure.
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