Southern India based steel units were seen majorly sourcing iron ore from domestic market via e-auctions and pellets rather than going for imported iron ore in this month.
Base prices in e-auctions move up in Oct – Iron ore base prices in Karnataka e-auctions moved up this month. NMDC raised prices by INR 250-300/MT M-o-M. NMDC Kumaraswamy mines are currently as follows: fines (Fe 60%) stood at INR 1,678/MT and lump (Fe 63.8%) at INR 1,974/MT. Mines prices for NMDC Donimalai, are as follows – lump (Fe 62.2) – INR 2,286/MT and fines (Fe 60.2%) – INR 1,899/MT and low grade fines (Fe 58%) – INR 1,679/MT (basic).
Private miners also raised base prices by INR 300-400/MT. Fines (Fe 65%) was offered by Vyasankere mines at INR 2,345/MT and for lump (Fe 65%), it is INR 2,530/MT.
Southern India based sponge iron manufacturers continued procuring sponge grade lump in Karnataka e-auctions. For instance lump (10-20 mm, Fe 61%) offered by NMDC Kumarswamy mines was base priced at INR 1,725/MT (basic) and for lump Fe 62.1% of same size received bids at INR 2,103-2,313/MT against base price of INR 1,823/MT.
Southern India based pellet makers hold offers – Pellet manufacturers based in southern India had increased pellet prices by INR 250/MT W-o-W towards the beginning of this month and continued with the offers. It is expected that pellet makers may revise prices after Diwali holidays. This week offers in Bellary are hovering in the range of INR 4,900-5,200/MT for Fe 63% pellets.
Iron ore sourcing from eastern and central India – Steel Exchange India, an Andhra Pradesh based steel company sourced pellets from Odisha based pellet maker – BRPL. Vizag Steel and KIOCL continued with their iron ore procurement from NMDC Bailadila mines in Chhattisgarh.
Only single iron ore import shipment observed in Oct – This month apart from KIOCL no other southern India based party imported iron ore cargoes. KIOCL imported 61,200 MT iron ore concentrate from Iran at Mangalore port on 21 Oct’16.
Leave a Reply