Odisha Based Essel Mining Raise Iron Ore Prices by INR 100-250/MT

Sharp increase in sponge iron prices pushes up Odisha iron ore prices.

After witnessing stability for nearly 2-months time, iron ore prices in Odisha have increased.

Essel Mining – A major merchant miner in Odisha has recently raised iron ore prices. Lump prices have moved up by INR 250/MT and fines by INR 100/MT.

Sponge iron offers in eastern region of India have gained strength because of shortage of rake availability, costlier coal prices and better demand. Indian sponge iron prices have recently hit 7-month high.

Market participants shared that owing to Vishvakarma puja the mines will remain closed tomorrow and there will be no movement of materials. It is likely that other Odisha based merchant miners may revise prices on Monday (19 Sept’16).

It is expected that other miners may also follow suit and raise iron ore prices by INR 100-200/MT shortly.

Essel Mining (Koira) iron ore prices

Ex-mines prices & inclusive of Royalty, DMF and NMET
Source: SteelMint Research