India: Odisha Merchant Miners Widen Discount on Bulk Iron Ore Fines Purchase

According to trade sources report to the SteelMint, few Odisha based major merchant iron ore miners are heard to have increased offers on bulk quantity purchase of fines against the last offer. Odisha merchant miners have twice raised iron ore prices in the month of Feb'19. Towards the beginning they raised offers by INR 200-300/MT and again by INR 400-600/MT.

Current trade prices for fines (Fe 63%) for bulk bookings is around INR 2,000-2,100/MT (ex-mines, including Royalty, DMF & NMET), down against last week's assessment of INR 2,300/MT (ex-mines, including Royalty, DMF & NMET). The prices mentioned are for bulk quantity of around 200,000 MT with upfront payment basis. A month back, trade reference prices were INR 1,800-1,900/MT for fines.

However, trade prices of lump (5-18mm, Fe 63%) is presently assessed at INR 4,500-4,600/MT (ex-mines, including Royalty, DMF & NMET), stable against last week.

Many merchant miners in Odisha have utilized their EC limits for the year and are not seen actively offering material in the market.