Monday 14 March
Orissa miner KJS ahluwalia cut domestic lumps prices by Rs 400/MT over sluggish demand..*
KJS Ahluwalia reduced iron ore lumps prices where as blue dust prices were remain unchanged on Monday. Demand has been weak from sponge manufacturers for past one month. 5-18 mm iron ore of 63 % Fe is being offered at Rs 5800/MT where as 10-30 mm 61 % Fe iron ore being offered at Rs 4500/MT.
Prices were likely to correct according to our sources primarily due to
1) Poor and sluggish demand in domestic steel market
2) Fresh production starting from April 1st which will increase the supply of Iron ore in the market.
Other miners like Essel and Rungta have kept their prices unchanged; though price correction are on the cards.
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