India: Essel Mining Cuts Iron Ore Lumps Offer by INR 400/MT; Fines Unchanged
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Essel Mining - a major iron ore mine in Odisha has decreased its offers by INR 400/MT for high grade iron ore lumps w.e.f 18th Mar'20. Fine prices continue to be unchanged.
According to company sources, after the price declined, offers at Jilling mines for calibrated iron ore lumps (5-18mm crushed) for Fe 65% and Fe 63% stands at INR 6,025/MT and INR 5,350/MT (FoR, including Royalty, DMF & NMET) respectively.
Yesterday, Serajuddin- Odisha's major merchant iron ore mine has decreased iron ore lump offers by INR 500/MT (USD 7). Miner has decreased prices for 5-18 mm (Fe 63%) by INR 500/MT to INR 4,000/MT (ex-mines, including Royalty, DMF, & NMET).
As per the reliable sources report to SteelMint, there is some sort of slow-down to place a new order, as the buyers are reluctant to place any fresh orders for the delivery of material by 31st Mar 2020.
Durgapur based pellet offers have come down by INR 200/MT since the beginning of Mar 2020.
