Major merchant miners in Odisha have further raised iron ore prices effect from today 26 Dec’17. Lump prices have further increased by INR 400/MT and fines prices have moved up by INR 200/MT.
Prior to this the miners had increased prices in mid of Dec’17 by same amount.
Sponge iron (C-DRI) prices in eastern India have moved up by INR 1,100/MT in a week’s time.
Availability of rake for iron ore has been critical and it is hampering movement in eastern parts of the country which has resulted in scarce availability. Market participants mentioned that previous bookings are still pending.
All these reasons have unanimously supported iron ore price hike by Odisha merchant miners.
Rungta Mines iron ore prices-:
| Size | Grade (Fe %) | Prices in INR/MT | Change |
| 5-18 | 62 | 5,300 | +400 |
| 10-30 | 62 | 4,950 | +400 |
| Fines | 63 | 2,450 | +200 |
Prices mentioned are loaded to wagons & incld Royalty, DMF & NMET wef 26 Dec’17
GST@5% extra
Source: SteelMint Research
Kaypee Enterprises Iron ore prices-:
| Size | Grade (Fe %) | Prices in INR/MT | Change |
| 5-18 | 62 | 4,150 | +400 |
| 10-30 | 62 | 3,900 | +400 |
| Fines | 63 | 2,025 | +200 |
Prices mentioned are lex-mines & incld Royalty, DMF & NMET wef 26 Dec’17
GST@5% extra
Source: SteelMint Research
KJS Ahluwalia Iron ore Prices-:
| Size | Grade (Fe %) | Prices in INR/MT | Change |
| 5-18 | 62 | 4,650 | +400 |
| 10-30 | 62 | 4,000 | +400 |
| Fines | 63 | 2,025 | +200 |
Prices mentioned are ex-mines & incld Royalty, DMF & NMET wef 26 Dec’17
GST@5% extra
Source: SteelMint Research
According to the market sources, major iron ore miners in Odisha are likely to pay the penalty amount related to the Odisha illegal mining case by the deadline i.e. (31st Dec 2017). The Odisha based miners had requested the Apex court for penalty revision and extension of penalty date, both of which were declined and the Court directed the miners to pay the compensation amount as recommended by CEC, failing to which the mines operations would be ceased.
Leave a Reply