Iron Pellet price in Eastern India gets higher by INR 200/MT
Pellet price in eastern region of India has strengthen by INR 200/MT and presently, offers are standing at INR 6,600/MT (loaded into wagons at Barbil). Prices have improved by INR 500/MT from the start of April.
Restricted Iron ore delivery from 5-17 Apr, 2014 because of elections in Odisha and escalation in domestic Sponge iron prices have thrust Pellet price upwards.
Arya Iron & Steel Pellet Prices Steps up
Arya Iron & Steel, a Pellet manufacturer located in the eastern region of India with 1.2 MnT pa Pellet plant, lifts domestic prices by INR 200/MT from the preceding week.
The company last sold Pellet at INR 6,600/MT (loaded into wagons at Barbil) and foresees an additional enhancement in offers.
CEC recommends Roll Back of Fresh EC Limit to Merchant Iron Ore Miners
Domestic market is facing dearth of Pellet because only a couple of manufacturers are active as of now. Furthermore, Iron ore prices are presumed to get better owing to shortfall in future. Consequently, Pellets prices may ascend by roughly INR 200/MT in ongoing week.
According to sources, Supreme Court’s appointed CEC has advocated roll back of extended EC limit to merchant miners situated in Odisha. On the other hand, there is no authorized affirmation from companies until now, with regards to CEC proposal.
On 19 Nov, 2013, Ministry of Environment and Forests, permitted Serajuddin mines an EC limit of 15.15 MnT pa for Iron ore production, which was 4.5 MnT pa previously. Rungta Mines were looking forward to obtain a new EC limit.
Sarda Mines may start Production behind Elections
Thakurani Iron ore mines of Sarda Mines in Joda mining circle was given a notice by Deputy Director of Mines, Joda, to close down mining operations following the expiration of EC limit. Possibly, Thakurani mines may obtain consent once elections conclude.
JSPL procures Iron ore from the mines for its 4 MnT pa Pellet making plant situated in Barbil (Odisha).
Odisha is India’s major Iron ore mining state with 62-63 MnT production in FY14, out of country’s nearly 136 MnT productions. It is also the leading Pellet producing state with 25.8 MnT pa installed capacity presently and 12.1 MnT capacity expansions in pipeline this fiscal.
Indian Pellet & DRI Summit 2014
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Friday, 27th June 2014, ITC Sonar, Kolkata
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