Odisha based major merchant miners have increased fines prices by INR 150-200/MT.
Few Odisha based merchant miners have raised fines prices by INR 150-200/MT over increase in cost of production after notification of DMF (District Mineral Fund). Miners who have raised prices are – Rungta Mines, Serajuddin Mines, KJS Ahluwalia and Kaypee Enterprises. However, lump prices continue to remain stable. On an average, miners have to pay additional amount of INR 75-100/MT for fines and around INR 100-150/MT for lump under DMF.
Following this, it is expected that other miners would also raise their fines prices, probably in this week. Price rise in fines will further pressurize merchant pellet makers who are struggling with subdued demand.
According to new MMDR amended act, miners have to pay DMF for peripheral activities as a measure to support the project affected people.
The contribution has been fixed at 30% of royalty for existing leases (those executed before12 Jan’15) and 10% of royalty for new leases (those executed after 12 Jan’15).
Odisha Iron Ore Prices as on 01 Oct’15
|
Miner |
Size | Grade (Fe %) | Ex-mines prices in INR/MT |
Change |
| Rungta Mines* | 5-18 mm | 62 | 3,150 | – |
| 10-30 mm | 62 | 3,000 | – | |
| Fines | 62 | 1,850 | +200 | |
| Essel Mining (Koira) | 10-30 mm | 61 | 2,150 | – |
| 5-18 mm | 62 | 2,800 | – | |
| 30-80 mm | 61 | 1,950 | – | |
| Fines | 63 | 1,425 | – | |
| Serajuddin Mines | 5-18 mm | 63 | 2,900 | – |
| Fines | 63 | 1,600 | +200 | |
| Indrani Patnaik | 5-18 mm | 63 | 2,700 | – |
| 10-30 mm | 63 | 2,600 | – | |
| Fines | 63 | 1,400 | – | |
| KJS Ahluwalia | 5-18 mm | 63 | 3,000 | – |
| 10-30 mm | 62 | 2,550 | – | |
| Fines | 63 | 1,600 | +150 | |
| KMC | 5-18 mm (Cr) | 62 | 2,800 | – |
| 5-18 mm (Sc) | 62 | 2,600 | – | |
| 10-30 mm | 60 | 2,600 | – | |
| Fines | 62 | 1,400 | – | |
| Fines | 60 | 800 | – | |
| Kaypee Enterprises | 5-18 mm | 63 | 2,700 | – |
| 10-30 mm | 62 | 2,550 | – | |
| Fines | 63 | 1,600 | +150 | |
| KN Ram | 5-18 mm | 63 | 3,200 | – |
| Fines | 63 | 1,650 | – |
*loaded to wagons
Prices inclusive of royalty
Source: SteelMint Research
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