Odisha merchant Iron ore miners keep prices at similar levels despite fear of temporary suspension on mining in the state
Rungta, Essel, Indrani Patnaik and Serajuddin some of the largest merchant Iron Ore miners in Odisha have kept their offers unchanged for the month of May, 2014. Despite fear of temporary suspension of mines running under deemed renewal, miners do not think it will impact supply to a very large extent.
Last month prices were corrected by INR 300-500/MT on lumps and upto INR 200/MT on fines.
Current Offers
| Particular | Size | Grade | Delivery | Price | W-O-W | M-O-M |
| Indian Iron Ore prices (in INR/MT) as on Week 18, 2014 ( 28 Apr – 04 May) | ||||||||
| Rungta Mines | 5-18MM | 65 | F.O.R Siding | 6,600 | 0 | |||
| 5-18MM | 63 | F.O.R Siding | 6,300 | 0 | ||||
| 10-30MM | 65 | F.O.R Siding | 5,950 | 0 | ||||
| 10-30MM | 63 | F.O.R Siding | 5,550 | 0 | ||||
| Blue Dust/Fines | 63 | F.O.R Siding | 2,450 | 0 | ||||
| Essel Mining | 5-18MM | 63 | F.O.R Siding | 6,275 | 0 | |||
| 10-30MM | 63 | F.O.R Siding | 5,525 | 0 | ||||
| Blue Dust/Fines | 63 | F.O.R Siding | 2,475 | 0 | ||||
| Indrani | 5-18MM | 63 | F.O.R Siding | 4,950 | 0 | |||
| 10-30MM | 63 | F.O.R Siding | 4,050 | 0 | ||||
| Blue Dust/Fines | 63 | F.O.R Siding | 2,325 | 0 | ||||
| Blue Dust/Fines | 60 | F.O.R Siding | 1,675 | 0 | ||||
| Serajuddin | 5-18MM | 63 | F.O.R Siding | 5,150 | 0 | |||
| Blue Dust/Fines | 63 | F.O.R Siding | 2,450 | 0 | ||||
Prices last updated on: 2014-05-02
Prices Including Royalty (Weekly Assessment)
In the recent hearing on PIL filed by NGO, Common cause over illegal mining in Odisha, Supreme court has kept its interim order reserved and asked the counsel to refer to case no WP (C) 3706-3707 C No 202/1995, which is similar in nature (Case number 202 1995).
Odisha Miners say, till now there has not been a panic situation as far as supply is concerned, miners which are running under second deemed renewal are either not operating or running at low capacity. However lot will depend after Supreme Court’s interim order which will set the direction.
To add on, Odisha’s Iron ore production jumped to 72 MnT a jump of 15% in FY14 against production of 62.4 MnT in FY13.
On similar lines, Pellet manufacturers in Barbil, Odisha, mention that prices are stable at INR 6,600-6,700/MT (Loaded to Wagons at Barbil) and demand is not so encouraging. Despite sharp rise in Sponge iron prices, pellet and iron ore prices are same.
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