Rungta Mines, one of the largest Odisha based miner of Iron ore, having mining operations at Odisha and Jharkhand, has lowered Iron ore fines prices by Rs 100/MT for the month of July.
Whereas, offers for Iron ore lumps remain unchanged at last month levels.
Rungta Mines July Iron Ore Prices:
Iron ore lumps
5-18 mm & Fe 65: Rs 7,100/MT
5-18 mm & Fe 63: Rs 6,800/MT
Fe 63 Iron ore fines: Rs 2,200/MT, down by Rs 100/MT
(Prices loaded to wagons at major sidings in Barbil, Odisha; Including royalty)
Buying interest in fines had been low in the previous month, looking at which the miner has cut offers marginally and is hopeful of better sales volume in the current month.
Though, it is charging lumps at similar prices as of now, there is some room for further correction.
Offers might drop slightly in the second week of July, as demand for lumps has not improved in large after Rungta mines had pulled down prices by Rs 300-400/MT on the 18th of June.
For more details, contact
Seema Goenka
(seema@steelmint.com)
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