Sponge manufacturers in Chattisgarh,which contributes to more than one forth of Indian sponge production prefer iron ore offered by miners in Odisha over NMDC, which is cheaper by Rs 800-1,000/t reported sources.
“Currently crushed iron ore from Odisha costs us around Rs 7,600-7,800/t for 63% Fe where as NMDC cost us around Rs 8,600-8,700/t. We are more inclined to buy it from Odisha.” said a big sponge manufacturer based in Raipur Chattisgarh.
Board of NMDC is likely to sit on 21st of August to discuss on iron ore prices for July-Sep for domestic steel mills.Market anticipates prices should correct by at least Rs 300-500/t.
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