Odisha: Essel Mining Increases Iron Ore Offer

Essel Mining - a major iron ore miner in Odisha has increased its offers for iron ore lumps by INR 300-350/MT (USD 4-5/MT). Revised prices will come into effect from 15 Dec'19. However in fines price hike made is by INR 150/MT.

According to sources, after the price hike its Jilling mines for 65% Fe calibrated iron ore lumps (5-18mm) stands at Rs 5,575/MT and 10-30mm stands at INR 5,175/MT including royalty and taxes on FoR basis.

Revised price for 63% Fe calibrated iron ore lumps (5-18mm) stands at Rs 4,950/MT and 10-30mm stands at INR 4,600/MT including royalty and taxes on FoR basis.

The miner has revised prices after a gap of over 2 months as last revision was made on 24 Aug'19.

Odisha's other major miners like Serajuddin, KJS Ahluwalia, RP Sao and Kaypee Enterprises had raised iron ore lump offers by INR 300/MT in 3rd week of Nov'19. Upon receiving active bookings at previous lower offers and stocking iron ore ahead 2020 lease expiry, miners had raised prices.

Odisha- India's largest iron ore producing state recorded total iron ore dispatches at 8.37 MnT in Nov'19, up 34% on monthly basis as against 6.23 MnT in Oct'19. The figures exclude movement for export and dispatches of miners- SAIL & Tata Steel.