Odisha merchant miners may revise iron ore prices next week. SteelMint in conversation with merchant miners learned that it is likely that Odisha iron ore prices may increase in the near term.
Miners shared that lump prices may increase by around INR 100-150/MT on the backdrop of good demand from sponge iron manufacturers.
However for fines, we received mixed response from market participants. Some shared that there is less scope of price increase in fines as already the fines bookings is not picking up. While others shared that fines prices may increase however the change may not be that significant as that in lump.
In Mar’16, miners had raised lump prices by upto INR 200/MT and fines prices had moved up upto INR 100/MT post notification of collection of District Mineral Foundation (DMF) fund.
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