With Shah commission look to hold its grip on illegal mining in Odisha (largest iron ore producing state in India), most of major mines are under scrutiny on violating some or the other norms.
Sources tell that domestic supply of iron ore has tightened a bit and looks to get severe in coming weeks.Not many permits have been granted in last 10 days.
Eyeing on this crisis, pellet manufacturers have already raised their offers by Rs 400-500/t in last 15 days. Current offers for 63% Fe pellet stands at Rs 7,900/t (Loaded to Wagons, Barbil Odisha).
We will not be surprised to see pellet prices going up to Rs 8,500/t if Shah commission stays in the state for some more time.
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