India Steel Market Watch
November 19: Odisha miners cut iron ore prices in the last one week’s time, taking into account low demand and inventory levels, industry sources said.
Sources said miners in Odisha like Rungta, Essel, Serajjudin, Indrani and KJS cut lumps prices by Rs 200-300 per ton and fines prices by around Rs 100 per ton.
Earlier, at the beginning of the month, NMDC had slashed lumps prices by Rs 80-100 per ton but raised fines prices by Rs 100 per ton. NMDC has announced that lump ore prices have been fixed at Rs 2,400 WMT (wet metric ton) and fines at Rs 1,560 wmt respectively with effect from November 3, 2015. The above prices are excluding royalty, taxes, duties and levies.
NMDC has reported 15.09 million tons (mt) of iron ore production and logged sales volumes of 15.73 mt up to October 2015. The iron ore major stated that the company’s Chhattisgarh mines produced 8.59 mt and registered sales volumes of 8.89 mt while the Karnataka mines produced 6.5 mt and sold 6.83 mt up to October 2015.
Goa, India's top iron ore exporting state, resumed production in August. The state has an annual limit of 20 million tons in the current fiscal. However, sources said e-auctions in Goa recorded lukewarm responses with sales hovering around 20-30% of the offered quantity.
Following are prevailing domestic iron ore prices:
|
|
|
Price (ex-mines) |
Price (ex-mines) |
W-O-W |
Company |
Size |
Grade |
19-Nov-15 |
12-Nov-15 |
|
NMDC |
6-20mm |
65 |
2400 |
2400 |
0 |
|
10-150mm |
64 |
2130 |
2130 |
0 |
|
Fines |
64 |
1560 |
1560 |
0 |
Rungta |
5-18mm |
65 |
NA |
NA |
NA |
|
5-18mm |
63 |
2700 |
3000 |
-300 |
|
10-30mm |
65 |
NA |
NA |
NA |
|
10-30mm |
63 |
2600 |
2900 |
-200 |
|
Blue Dust |
63 |
1800 |
1800 |
0 |
Essel |
5-18mm |
63 |
NA |
NA |
NA |
|
10-30mm |
63 |
2400 |
2700 |
-300 |
|
Blue Dust |
63 |
1500 |
1600 |
-100 |
Serajuddin |
5-18mm |
63 |
2300 |
2600 |
-300 |
|
Blue Dust |
63 |
1500 |
1600 |
-100 |
Indrani |
5-18mm |
63 |
2200 |
2500 |
-300 |
|
Blue Dust |
63 |
1400 |
1500 |
-100 |
KJS Ahluwalia |
5-18 mm |
63 |
2400 |
2600 |
-200 |
|
Blue Dust |
63 |
1500 |
1600 |
-100 |
Source: Traders