Rungta Mines, one of the largest Odisha based miner of Iron ore, having mining operations at Odisha and Jharkhand, has lowered Iron ore lumps prices by Rs 200/MT w.e.f 16 July.
Whereas, offers for Iron ore fines remain unchanged at previous levels.
Rungta Mines mid-July Iron Ore Prices:
Iron ore lumps
5-18 mm & Fe 65: Rs 6,900/MT, down by Rs 200/MT
5-18 mm & Fe 63: Rs 6,600/MT, down by Rs 200/MT
Fe 63 Iron ore fines: Rs 2,200/MT
(Prices loaded to wagons at major sidings in Barbil, Odisha; Including royalty)
Sales in lumps has fallen drastically and buyers are preferring to use Iron Pellets, which is available at cheaper rates. Hence, offers have come down further.
The miner is yet to take a decision regarding Iron ore fines prices, which has been unchanged as of now.
Offers might fall further, provided buying does not improve in the near term.
For more details, contact
Seema Goenka
(seema@steelmint.com)
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