Odisha’s Essel Mining has lowered its offer for iron ore fines from 30 May’21, sources informed SteelMint. The revised offer for fines (Fe 62%) stands at INR 8,400/t (ex-mines, including royalty, DMF & NMET). Prices have come down by INR 1,000/t against its last offer on 11 May’21. Notably, Essel’s lease for the Nuagoan, Kadodiha mine will expire towards end-Aug’21. Also, Odisha’s Sarda Mines is nearing the end of its lease on 13 Aug’21. Thus, merchant supply from Odisha is set to go down in the coming months.
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