Amid currency demonetization, iron ore trading activities in eastern India domestic market have witnessed a setback.
Odisha based merchant miners shared that owing to prevailing liquidity crunch, inquiries for iron ore bookings have also fallen.
Miners continue to maintain same iron ore offers as of now and there are less chances of revision in the near term.
Market participants are of the view that trading activities may remain less unless sponge iron prices pick up and demand from sponge manufacturers improve.
Odisha iron ore prices as on 16 Nov’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 | 2,700 |
| 10-30 | 61 | 2,600 | |
| Fines | 63 | 1,150 | |
| 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
It is to be noted that Odisha based merchant miners had last revised (increased) iron ore prices towards the beginning of Oct’16. Since then prices have exhibited stability.
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