Rungta mines Ltd – one of the largest merchant miner located in the state of Odisha, with an annual production of 12 million tons has decided to un-change its iron ore prices for the mid of April.
Lumps as well as fines prices are standing at levels similar to what was quoted in the beginning of April.Iron ore fines with Fe% 63 is being offered at Rs 2,300/MT.
CLO iron ore lumps with Fe% 63 is quoted at Rs 7,250/MT. Whereas, prices of lumps with Fe% 65 is standing at Rs 7,650/MT.
(Prices loaded to wagon, Odisha).
A senior official of Rungta mines told SteelMint that there is no such reason on account of which prices can be raised as demand for both lumps and fines is decent, with no major improvement.
In the beginning of March, Rungta mines had lowered prices of fines by Rs 350/MT to Rs 2,300/MT due to weak buying.
Whereas, prices for both lumps and fines did not meet with any alteration in the mid of March and also in the start of April.
KJS Ahluwalia had raised offers for iron ore lumps of size 5-18 mm with Fe% 63 by Rs 300/MT to Rs 5,700/MT and for 10-30 mm lumps with Fe% 61 to Rs 4,900/MT in the beginning of April.
Its prices of fines with Fe% 63 was also quoted higher by Rs 200/MT to Rs 1,900/MT (Ex-mines prices, including royalty; taxes extra).
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