Serajuddin Mines has reduced lump prices by INR 350/MT (USD 5.5/MT). While, fines prices remain unchanged.
Odisha based merchant miner, Serajuddin Mines has reduced lump prices by INR 350/MT, while, fines prices remain unchanged. The miner has an Environmental Clearance (EC) of 15.15 MnT pa. The miner sold about 1 MnT iron ore in May’15 and 0.7 MnT in Jun’15 (till 23 Jun’15).
“We have cut lump prices owing to piling up of inventories and low demand. Whereas, fines demand has been decent”, said an official from the company.
Serajuddin Mines Iron Ore Prices
| Size | Grade | Prices (Ex-mines) | Prices (Loaded to wagons) | Change |
| 5-18 mm | 63 | 3,550 | 4,000 | – 350 |
| Blue Dust/Fines | 63 | 1,600 | 2,050 | 0 |
Prices in INR/MT including Royalty
Loaded to Wagons Prices for Banspani Railway Siding
Source: SteelMint Research
Other miners may also cut lump prices owing to fall in sponge prices across eastern region.
Odisha Production may Touch to 74-75 MnT in FY16
Odisha is the largest iron ore producing state in the country, which contributes around 50% of India’s total iron ore production. State’s iron ore production fell sharply in FY15 to 47 MnT due to several mines closed under second deemed renewal clause.
With amended MMDR Act in the place, iron ore production in the state is expected to go up to 74-75 MnT in current fiscal year.
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