The iron ore market in Odisha remained steady this week, as auction results from the Odisha Mining Corporation (OMC) provided price support, while availability from other merchant miners remained scarce. The market has seen restricted supply after the environmental clearance (EC) limits of several miners expired for the current financial year. As a result, buyers […]
India’s sponge iron prices increased by INR 50-200/tonne (t) d-o-d across key locations today. PDRI prices were assessed at INR 24,100-27,000/t at the close of trading, while CDRI tags stood at INR 26,600-31,000/t. Today, the market witnessed an uptrend, as robust bookings were recorded yesterday. This led suppliers to lift offers. However, an average transaction […]
Indian sponge iron prices showed mixed trends today, with tags rising by INR 100-350/tonne (t) d-o-d in certain markets but declining by INR 100-150/t in other regions. The drop in sponge iron prices was driven by slow demand. Buyers were unwilling to procure material and preferred to wait for further market corrections. However, despite sluggish […]
Sponge iron prices witnessed a steady decline today, dropping by INR 50-400/tonne (t) across locations amid selling pressure and weakening market sentiments. Buyers remained cautious due to the lacklustre demand for semi-finished and finished products, which led to a low level of purchasing activity. In central India, however, trade volumes stood steady as of due […]
Odisha’s iron ore prices remained stable this week as trade activities slowed down ahead of the upcoming OMC auction scheduled for 19 February. Market participants expect that the base prices and total offered quantity will be announced in the next couple of days. BigMint’s Odisha iron ore fines (Fe 62%) index inched up by INR […]
Australia: Iron ore export shipments increase 5% m-o-m in Dec’24 Brazil: Iron ore export shipments down 2% m-o-m in Dec’24 South Africa: Iron ore exports rise 8% m-o-m in Dec India: Iron ore exports rise by 18% m-o-m in Dec Article From Bigmint Intersteelbd
Iron ore prices in Odisha remained largely stable this week with need-based procurement seen from steelmakers. Some miners concluded active deals of higher grade lumps for January sales which improved market sentiments slightly but major buyers remained cautious against aggressive procuring. BigMint’s Odisha iron ore fines (Fe 62%) index remained stable at INR 5,200/t ($60/t) […]
Morning Brief: India’s exports of iron ore, excluding pellets, dropped 10% y-o-y in calendar year 2024 (CY’24). Iron ore exports fell to a little under 30 million tonnes (mnt) from over 33 mnt in CY’23, as per latest data available with BigMint. Shipments had reached a three-year high in CY’23 after the government rescinded a 50% […]
Iron ore prices in Odisha remained under pressure in the first week of CY’25 following lower bids from buyers for raw material purchases. A few miners reduced their prices by INR 200-300/t to encourage trade amid muted buying interest. However, buyers appear to be holding back, anticipating further price reductions before committing to new deals. […]
Iron ore prices in Odisha remained under pressure in the first week of CY’25 following lower bids from buyers for raw material purchases. A few miners reduced their prices by INR 200-300/t to encourage trade amid muted buying interest. However, buyers appear to be holding back, anticipating further price reductions before committing to new deals. […]