Odisha Merchant Miners Increase Iron Ore Prices Further
...
Major merchant miners in Odisha have further increased prices iron ore prices from today (02ndJan'18). Lump prices have further increased by INR 500/MT and fines prices have moved up by INR 300/MT.
Prior to this the miners had increased prices in last week of Dec'17 by 400/MT Lumps and 200/MT fines. In mid of Dec'17, the miners had raised prices by the same amount.
Five working iron ore mines Mesco Steel, Serajuddin & Company, government-owned IDCOL and National Enterprises in Odisha have gone out of operations as they failed to pay out the penalties, as per deadline was given by honorable Supreme Court till 31st Dec'17. These mines produce 20 MnT iron ore annually.
Availability of rake for iron ore has been still critical and it is hampering movement in eastern parts of the country.
Also, few miners were heard to have utilized their EC limits for the year
Limited iron ore availability has unanimously supported iron ore price hike by Odisha merchant miners this week.
Rungta Mines iron ore prices-:
| Size | Grade (Fe %) | Prices in INR/MT | Change |
| 5-18 | 62 | 5,800 | +500 |
| 10-30 | 62 | 5,450 | +500 |
| Fines | 63 | 2,750 | +300 |
Prices mentioned are loaded to wagons & incld Royalty, DMF & NMET wef 02Jan'18
GST@5% extra
Source: SteelMint Research
Kaypee Enterprises Iron ore prices-:
| Size | Grade (Fe %) | Prices in INR/MT | Change |
| 5-18 | 62 | 4,650 | +500 |
| 10-30 | 62 | 4,400 | +500 |
| Fines | 63 | 2,325 | +300 |
Prices mentioned are lex-mines & incld Royalty, DMF & NMET wef 02Jan'18
GST@5% extra
Source: SteelMint Research
KJS Ahluwalia Iron ore Prices-:
| Size | Grade (Fe %) | Prices in INR/MT | Change |
| 5-18 | 62 | 5,150 | +500 |
| 10-30 | 62 | 4,500 | +500 |
| Fines | 63 | 2,325 | +300 |
Prices mentioned are ex-mines & incld Royalty, DMF & NMET wef 02Jan'18
GST@5% extra
Source: SteelMint Research
