UTC+8 ( BJT)

Weekly: Indian iron ore market overview

SteelMint's index for Odisha iron ore fines has remained largely range-bound this week however index for lumps has come down by INR 100-150/t w-o-w. Odisha - India's largest iron ore producing state recorded production of 9.43 mn t in Oct'20, up 20%, as against 7.82 mn t in Sep'20, according to the provisional data of the Odisha Govt. maintained by SteelMint. Trade sources highlighted limited trades in domestic market this week with buyers turning hesitant to book material at increased offers.
SteelMint's index for Odisha iron ore fines (Fe 62%) index stood at INR 6,200/t (ex-mines, including Royalty, DMF & NMET). SAIL concluded an auction for 72,000 t iron ore fines (Fe 62.5%) from its Bolani mines in Odisha yesterday with bids at INR 5,540-5,550/t (loaded into rakes and excluding royalty).

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