Iron ore prices in Odisha remained under pressure this week as the domestic pellet, sponge iron and steel markets continued their downtrend. Market participants attribute this to a lack of confidence among steelmakers in procuring raw materials at prevailing rates. The ongoing slump in iron ore export prices further weighed on raw material prices in […]
The iron ore market in Odisha saw restricted buying interest this week with miners raising prices following OMC’s auction. Trading volumes remained subdued due to weak demand from sponge iron makers and a downturn in the export market. BigMint’s Odisha iron ore fines (Fe 62%) index remained stable w-o-w to INR 5,600/t ($67/t) ex-mines on […]
Morning Brief: Global iron ore imports recorded a nominal growth of around 5% to 1,201 million tonne (mnt) in the January-September, 2024 (9MCY’24) compared to 1,149 mnt seen in the same period in 2023. Australia was the largest exporter with 646 mnt, up 2% y-o-y followed by Brazil with 291 mnt, a rise of 6%. South […]
Brazilian mining giant Vale has set an ambitious target to surpass 360 million tonnes (mnt) of iron ore production by 2030, said Eduardo Mello Franco, Marketing Manager, Vale, at the Asia Iron Ore Summit organised by Mysteel Global. As part of this strategy, the company is committed to driving sustainable mining practices, focusing on safety […]
Jindal SAW’s total income (standalone) for second quarter of financial year 2025 (Q2FY’25) stood at INR 47,902 million, higher by 4% compared to INR 46,108 million in Q2FY’24, the company reported in its investors’ call held on 21 October, 2024. EBITDA (standalone) stood at 8,751 million in Q2FY’25, up by 17% y-o-y from INR 7,505 […]