Miners kept iron ore offers unchanged in the last one week as 2015 came to an end, taking into account low demand and inventory levels, industry sources said.
Sources said miners in Odisha, like Rungta, Essel, Serajjudin and Indrani, who cut lumps prices in December, kept both lumps and fines prices unchanged as the year came to an end. The miners are likely to take a decision on prices after ascertaining inventory position by the first week of January 2016.
Earlier, state-run miner NMDC cut prices of iron ore by 15% to Rs 1,800 per ton in an effort to revive demand. Analysts believe the decision came after weak despatch volumes in November. NMDC's sales volumes fell 12% year-on-year to 17.72 million tons till November 30, 2015.
NMDC has set a target of almost doubling its mining capacity to 75 million tons in the next two years compared to the current capacity 34 million tons. Its production stood at 30.4 million ton in the last financial year.
Following are prevailing domestic iron ore prices:
|
|
|
Price (ex-mines) |
Price (ex-mines) |
W-O-W |
Company |
Size |
Grade |
31-Dec-15 |
24-Dec-15 |
|
NMDC |
6-20mm |
65 |
1800 |
1800 |
0 |
|
10-150mm |
64 |
1610 |
1610 |
0 |
|
Fines |
64 |
1560 |
1560 |
0 |
Rungta |
5-18mm |
65 |
NA |
NA |
NA |
|
5-18mm |
63 |
2600 |
2600 |
0 |
|
10-30mm |
65 |
NA |
NA |
NA |
|
10-30mm |
63 |
2500 |
2500 |
0 |
|
Blue Dust |
63 |
1800 |
1800 |
0 |
Essel |
5-18mm |
63 |
2300 |
2300 |
0 |
|
10-30mm |
63 |
1600 |
1600 |
0 |
|
Blue Dust |
63 |
1500 |
1500 |
0 |
Serajuddin |
5-18mm |
63 |
2200 |
2200 |
0 |
|
Blue Dust |
63 |
1500 |
1500 |
0 |
Indrani |
5-18mm |
63 |
2200 |
2200 |
0 |
|
Blue Dust |
63 |
1500 |
1500 |
0 |
KJS Ahluwalia |
5-18 mm |
63 |
2200 |
2200 |
0 |
|
Blue Dust |
63 |
1500 |
1500 |
0 |
Source: Traders