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

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.

SteelMint's index for Odisha fines (Fe 63%) for bulk bookings are around INR 1,750-1,850/MT (ex-mines, including Royalty, DMF & NMET) down against last week's assessment of INR 1,900/MT (ex-mines, including Royalty, DMF & NMET). The prices mentioned are for bulk quantity of around 200,000 MT with upfront payment basis.

However index for 5-18mm lump is around INR 3,600-3,700/MT (ex-mines, including Royalty, DMF & NMET).

Odisha's state-owned miner- Odisha Mining Corporation (OMC) had scheduled its iron ore fines e-auction on 12th Sep'19. Out of the total quantity nearly 51% (196,500 MT) of material fetched bids.