India: Odisha iron ore fines index stable, but falling steel prices impact trades

Source: BigMint Oct 29, 2024 10:00

Trades remain subdued after OMC auction. Over INR 1,500/t ($18/t) drop witnessed in steel prices. Market enters wait-and-watch mode before festive holidays.

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