Indian iron ore offers remained firm as material availability is still an issue, mainly for high-grade material, industry sources said.
Odisha iron ore fines of Fe 62 percent variety is recorded at around ₹6,700-7,600 per ton ex-mines, including Royalty, DMF & NMET.
Lump offers moved in the region of ₹10,800-11,000 per ton.
There seem to support for prices as material availability is still an issue, mainly for high grade.
OMC increased the base price by up to ₹1800-1900 per ton for upcoming iron ore auction for 1.38 million tons (mt).
Some Odisha-based major merchant iron ore miners have raised lump offers by ₹100 per ton with current offers for lumps 5-18 mm Fe 63 percent at around ₹11000 per ton ex-mines (including Royalty, DMF & NMET).
Another miner has also raised iron ore lump offers by ₹200-300 per ton with the current offer for Fe 10-40 mm 62 percent + grade at ₹10,600 per ton ex-mines.
In a recent auction bids for around 24,000 tons of iron ore fines was received for a mine in Chhattisgarh for iron ore fines Fe 56-58 percent. The material was offered at ₹2700-3400 per ton including Royalty, DMF and NMET.
Market sources expect NMDC to revise prices shortly.
This story is from the May 2021 edition of Steel Insights.
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This story is from the May 2021 edition of Steel Insights.
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