India Steel Market Watch
October 1: Iron ore miners have kept offers unchanged in the last one week on sluggish sales, industry sources told ISMW.
Odisha miners like Rungta, Essel, Serajjudin, Indrani and KJS kept offers unchanged as offtake was low, sources said.
NMDC also kept offers unchanged on subdued demand.
Sources said miners would review prices over the next one week’s time taking into stock the inventory and sales position.
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 response with sales levels around 20-30% of the offered quantity.
India has cut the export duty on low-quality ore to 10% from 30%, mainly to help companies sell Goa's ore that contains less than 58% iron.
Following are prevailing domestic iron ore prices:
|
|
|
Price (ex-mines) |
Price (ex-mines) |
W-O-W |
Company |
Size |
Grade |
01-Oct-15 |
24-Sep-15 |
|
NMDC |
6-20mm |
65 |
2850 |
2850 |
0 |
|
10-150mm |
64 |
2510 |
2510 |
0 |
|
Fines |
64 |
1660 |
1660 |
0 |
Rungta |
5-18mm |
65 |
NA |
NA |
NA |
|
5-18mm |
63 |
3300 |
3400 |
-100 |
|
10-30mm |
65 |
NA |
NA |
NA |
|
10-30mm |
63 |
3100 |
3100 |
0 |
|
Blue Dust |
63 |
1700 |
1700 |
0 |
Essel |
5-18mm |
63 |
NA |
NA |
NA |
|
10-30mm |
63 |
2900 |
2900 |
0 |
|
Blue Dust |
63 |
1500 |
1500 |
0 |
Serajuddin |
5-18mm |
63 |
2800 |
2800 |
0 |
|
Blue Dust |
63 |
1500 |
1500 |
0 |
Indrani |
5-18mm |
63 |
2700 |
2700 |
0 |
|
Blue Dust |
63 |
1400 |
1400 |
0 |
KJS Ahluwalia |
5-18 mm |
63 |
2600 |
2600 |
0 |
|
Blue Dust |
63 |
1500 |
1500 |
0 |
Source: Traders