Essel Mining and Industries has reduced iron ore prices from its Koira mines. Miner has announced a price cut of about INR 225/MT (USD 4) in both lumps and fines.
Odisha iron ore prices have come under pressure amid falling pellet prices, declining sponge iron prices and improved supply post resumption of operations at Serajuddin and Essel Mining Koira and Jilling mines.
Essel Mining Prices at Koira Mines
| Material Type (Size mm) | Grade (Fe %) | Prices in INR/MT | M-o-M |
| Fines | Fe 63/62% | 2,060 | -225 |
| 5-18 mm | Fe 62% | 4,840 | -225 |
Prices mentioned are ex-mines w.e.f 25 Mar’18, inclusive of Royalty, DMF & NMET, GST extra
Source: SteelMint Research
In the SC hearing conducted on 15 Feb’18, the Supreme Court permitted Essel mining and Industries Ltd. to resume operations at two of its iron ore mines in Odisha – Jilling Langalota and Koira.The miner has EC limit of 4 MnT p.a. for its Koira mines while its Jilling mines have EC limit of 6.2 MnT pa.
Essel Mining Prices at Jilling Mines
| Material Type (Size mm) | Grade (Fe %) | Prices in INR/MT |
| Fines | Fe 63% | 2,195 |
| 5-18 mm | Fe 65% | 5,525 |
Prices mentioned are ex-mines, inclusive of Royalty, DMF & NMET, GST extra
Source: SteelMint Research
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