Odisha: Indrani Patnaik Mines Reduce Iron Ore Prices Up to INR 250/MT

Indrani Patnaik Mines Odisha based one of the merchant miners have today announced reduction in its iron ore prices. Lump prices have come down by INR 250/MT and fines by INR 100/MT.

Towards to the beginning of Jun’17 two major merchant miners from Odisha namely Rungta Mines and Essel Mines had cut lump prices by INR 250/MT and fines by INR 75/MT, however Indrani Patnaik Mines had not revised the prices then.

Yesterday another one of the largest miners Serajuddin Mines in Odisha have announced reduction in its iron ore prices. Lump prices have come down by INR 400/MT (USD 6/MT) and fines prices have come down by INR 150/MT(USD 2.3/MT).

Indrani Patnaik Mines iron ore production was stable Y-o-Y with 3.95 MnT in FY17 and 3.97 MnT in FY16.

Indrani Patnaik iron ore prices as on 22^nd Jun’17

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