Odisha based merchant miners continue to keep iron ore prices unchanged for 2nd half of Dec’16.
Major iron ore merchant miners in Odisha have kept iron ore offers stable since last two months except Essel Mining which reduced iron ore prices by INR 100-250/MT w.e.f 01 Dec’16.
Sponge manufacturers reduce iron ore off-take over curtailed production – Market participants highlighted decline in iron ore off-take by sponge manufacturers over curtailed production. Sponge manufacturers have either gone for production cut or have completely shut down operation amid dull demand post currency demonetization.
Sponge iron prices in eastern parts of India have fallen by INR 400/MT W-o-W.
Odisha iron ore prices as on 16 Dec’16
|
Miner |
Size (mm) | Grade (Fe%) |
Prices in INR/MT |
| Rungta Mines (Joda)* | 5-18 | 62 | 3,300 |
| 10-30 | 62 | 3,150 | |
| Fines | 63 | 1,750 | |
| Serajuddin Mines | 5-18 | 63 | 2,500 |
| Fines | 63 | 1,200 | |
| Essel Mining (Koira) | 5-18 | 62 | 2,450 |
| 10-30 | 61 | 2,350 | |
| Fines | 63 | 1,050 | |
| KJS Ahluwalia | 5-18 | 63 | 2,650 |
| 10-30 | 61 | 2,550 | |
| Fines | 63 | 1,250 | |
| Kaypee Enterprises | 5-18 | 63 | 2,550 |
| 10-30 | 62 | 2,450 | |
| Fines | 63 | 1,260 | |
| Indrani Patnaik* | 5-18 | 63 | 2,850 |
| Fines | 62 | 1,550 |
Ex-mines prices in INR/MT
*Prices as per loaded to wagons & inclusive of Royalty, DMF & NMET
Source: SteelMint Research
Odisha’s merchant mines’ iron ore dispatches down 4% in Nov’16 – Iron ore dispatches by Odisha based merchant mines fell last month and was recorded at 5.89 MnT against 6.11 MnT in Oct’16 (The figures are excluding rake movement for exports). Owing to increased pellet & low-grade iron ore export from eastern regions of India, rake availability in domestic market had reduced.
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