SteelMint learned from the market sources that DMG (Department of Mines and Geology, Govt of Karnataka) has been making changes in its software system. This is a permit system through which iron ore is getting transported from mines to respective plants. ILMS application is Integrating with Forest department, Buyer, Route, Vehicle, and Destination altogether at one platform for providing better service to the clients.
As per the reports, iron ore movement has been hampered between 31st March’19 to 03rd April’19, it may take one or two days longer to resume services. Therefore overall impact is learned to be of 6 days so far that has led to temporary iron ore shortage in southern India market.
SteelMint has also learned from the sources that because iron ore shortage, a major blast furnace based steel maker has recently booked pellets from merchant sellers in Bellary region to meets its requirement. As per the sources, steelmaker has purchased around 70,000-80,000 MT pellet from the leading pellet makers in Bellary region.
As per the SteelMint current assessment for pellets price prevailing in Ex-Bellary is at around INR 6,800-6,900/MT.
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