India: Major Odisha Merchant Miners Hike Iron Ore Offers

Odisha based major merchant iron ore miners have today increased offers in both fines and lumps by INR 200-300/MT. Odisha merchant miners namely KJS Ahluwalia, Kaypee Enterprises, KN Ram and R P Sao have raised iron ore fines and lump prices by INR 200-300/MT with effect from today (i.e. 4th Feb’19).

Also, Rungta Mines and Serajuddin mines are reported to have raised iron ore offers. In fines, the miner has raised by INR 200/MT and lump by INR 300/MT. Revised prices will be effective from tomorrow (5th Feb'19).

Current trade prices for fines (Fe 63%) is around INR 2,000-2,100/MT (ex-mines, including Royalty, DMF & NMET) and for 5-18 mm (Fe 63%) is around INR 4,000-4,200/MT (ex-mines, including Royalty, DMF & NMET).

A month earlier, trade reference prices for fines at INR 1,900/MT and 5-18 mm lumps was at INR 4,000/MT (ex-mines, including Royalty, DMF & NMET).

Odisha based major merchant miners have raised iron ore offers on the back of recent hike in Indian pellet export prices. Indian pellet (3% alumina) export prices have moved up last week by around USD 5-6/MT to USD 116-117/MT, CFR China. Exporters are eyeing for further hike in offers post Vale dam collapse anticipating some supply disruption in global seaborne pellets.