Odisha: Essel Mining Cuts Iron Ore Prices Up to INR 200/MT
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Essel Mining - an Odisha based merchant miners has recently announced price cut of INR 100-200/MT. Lump prices have come down by INR 200/MT and fines by INR 100/MT.
The price has been reduced due to weak market fundamentals, slow demand from sponge manufacturers and declining domestic pellet offers.
According to provisional government data maintained with SteelMint, Essel Mining produced 2.46 MnT iron ore during Jan-Jul'17.
However other major merchant miners continue to hold same offers as of now.
Essel Mining iron ore prices as on 16th Oct'17
| Size (mm) | Grade (Fe %) | Prices in INR/MT | Change |
| 5-18 | 62 | 3,400 | -200 |
| 10-30 (Cr) | 63 | 3,300 | -200 |
| Fines | 63 | 1,300 | -100 |
Ex-mines prices (inclusive of Royalty, DMF & NMET), w.e.f. 16 Oct'17
Source: SteelMint Research
