Odisha: Merchant Miners Hike Iron Ore Lump Offer by INR 300/MT

Odisha's major merchant iron ore miners namely Serajuddin, KJS Ahluwalia & Kaypee have increased iron ore lump offers effect from today (20th Nov'19). Miners have increased prices for 5-18 mm (Fe 63%) by INR 300/MT to INR 4,000/MT (ex-mines, including Royalty, DMF, & NMET) as against last offers at INR 3,700/MT (ex-mines, GST extra).

However, as per sources Serajuddin had booked a decent quantity of around 5,00,000-600,000 MT lump at offers of INR 3,400/MT ex-mines and has dispatches pending for the same, but, this could not be confirmed from company official.

Odisha's total iron ore production for the month of Sep'19 recorded at 8.34 MnT down 11% amid monsoon, as against 9.39 MnT in Aug'19, according to the provisional data of Odisha Govt. maintained by SteelMint.

Serajuddin mines production recorded 11% drop to 1.27 MnT in Sept'19 as compared to 1.42 MnT a month ago. Production fell owing to monsoons. Serajuddin mine produces around 10 MnT iron ore annually and has an EC limit of 15.15 MnT p.a. Production at KJS Ahulawalia recorded at 0.61 MnT for the month against 0.41 MnT a month ago.