Odisha based major merchant miners namely Rungta Mines & Essel Mining have also reduced iron ore prices.
Rungta mines has reduced lump prices by INR 250/MT and fines by INR 150/MT. Depressed sentiments in finished steel & semi-finished steel products has led to reduced offtake owing to which Odisha merchant miners have further cut down offers.
Last week, Serajuddin mines and Indrani Patnaik had cut iron ore prices.
Rungta Mines iron ore prices w.e.f 15 Nov’15
|
|
Grade (Fe %) | Prices in INR/MT |
|
|
Joda mining circle |
|||
| 5-18 | 62 | 2,700 | -250 |
| 10-30 | 62 | 2,550 | -250 |
| Fines | 62 | 1,700 | -150 |
|
Koira mining circle |
|||
| 5-18 | 62 | 2,700 | -250 |
| 10-30 | 62 | 2,550 | -250 |
| Fines | 62 | 1,900 | -150 |
Prices as per loaded to wagons & inclusive of Royalty
Source: SteelMint Research
Essel Mining has cut iron lump prices by INR 250/MT and fines prices by INR 200/MT.
Essel Mining (Koira) iron ore prices:
|
|
Grade (Fe %) | Prices in INR/MT |
|
| 5-18 | 62 | 2,350 | -250 |
| 10-30 | 61 | 1,700 | -250 |
| Fines | 63 | 1,425 | -200 |
Ex-mines prices & inclusive of Royalty
Source: SteelMint Research
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