Merchant miners in Odisha continue to keep same iron ore offers as of now and are presently in wait & watch mode.
Lastly, Odisha based merchant miners had raised iron ore lump prices by INR 300-400/MT and fines prices by INR 150/MT in mid of Mar’17 amid sharp hike in sponge prices. Since then, Odisha iron ore prices have witnessed stability.
Trade sources mentioned that iron ore bookings are yet to gain pace after they had raised prices in mid of Mar’17. Hence further hike in iron ore prices is less expected.
Market participants are also highlighted that they are eyeing from OMC’s upcoming e-auction which is scheduled on 06 Apr’17. The miner has offered 627,000 MT iron ore to be put under auction out of which 425,000 MT is lump and rest is fines. The miner has raised base prices of iron ore lump up to INR 500/MT and fines prices up to INR 250/MT for this e-auction against the previous auction held on 03 Feb’17.
Odisha iron ore prices as on 01 Apr’17
|
Miner |
Size (mm) | Grade (Fe%) |
Prices in INR/MT |
| Rungta Mines (Joda)* | 5-18 | 62 | 4,300 |
| 10-30 | 62 | 3,950 | |
| Fines | 63 | 1,825 | |
| Serajuddin Mines | 5-18 | 63 | 3,400 |
| Fines | 63 | 1,500 | |
| Essel Mining (Koira) | 5-18 | 62 | 3,750 |
| 10-30 | 61 | 3,650 | |
| Fines | 63 | 1,425 | |
| KJS Ahluwalia | 5-18 | 63 | 3,600 |
| 10-30 | 61 | 3,300 | |
| Fines | 63 | 1,525 | |
| Kaypee Enterprises | 5-18 | 63 | 3,500 |
| 10-30 | 62 | 3,200 | |
| Fines | 63 | 1,535 |
Ex-mines prices in INR/MT
*Prices as per loaded to wagons & inclusive of Royalty, DMF & NMET
Source: SteelMint Research
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