Merchant miners in Odisha continue to maintain same iron ore offers as of now.
After sharp plunge observed in finished and semi-finished steel prices last month, Odisha based merchant miners are holding iron ore prices for now and are awaiting clarity in domestic market scenario.
“As of now we do not see any revision in iron ore prices and we are holding our offers. Limited trades has resulted in sharp decline in finished steel and sponge prices in Oct. Miners are in ‘wait and watch’ mode. If downtrend in semi-finished steel prices continues further, iron ore prices may also come under pressure.
However majority of market participants are anticipating demand to gear up now after Diwali holidays”.
Odisha iron ore prices as on 01 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
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