Odisha: Essel Mining Increases Iron Ore Offer
Essel Mining - a major iron ore miner in Odisha has increased its offers for iron ore lumps by INR 300-350/MT (USD 4-5/MT). Revised prices will come into effect from 15 Dec'19. However in fines price hike made is by INR 150/MT.
According to sources, after the price hike its Jilling mines for 65% Fe calibrated iron ore lumps (5-18mm) stands at Rs 5,575/MT and 10-30mm stands at INR 5,175/MT including royalty and taxes on FoR basis.
Revised price for 63% Fe calibrated iron ore lumps (5-18mm) stands at Rs 4,950/MT and 10-30mm stands at INR 4,600/MT including royalty and taxes on FoR basis.
The miner has revised prices after a gap of over 2 months as last revision was made on 24 Aug'19.
Odisha's other major miners like Serajuddin, KJS Ahluwalia, RP Sao and Kaypee Enterprises had raised iron ore lump offers by INR 300/MT in 3rd week of Nov'19. Upon receiving active bookings at previous lower offers and stocking iron ore ahead 2020 lease expiry, miners had raised prices.
Odisha- India's largest iron ore producing state recorded total iron ore dispatches at 8.37 MnT in Nov'19, up 34% on monthly basis as against 6.23 MnT in Oct'19. The figures exclude movement for export and dispatches of miners- SAIL & Tata Steel.
source: SteelMint
Top News
Six last month
MinRes halts Bald Hill mine amid lithium price rout
Gold price faces worst week since 2021 as Fed signals no rate-cut rush
Iran Alloy Steel Company intends to purchase 12 tons of ferrotungsten through public tender
Iran Alloy Steel Company intends to purchase 150 tons of Low-Carbon Ferro Manganese through public tender
Swapping aluminum for copper will maintain China’s resources, group says
Gold loses some luster after Trump’s decisive win
Hedge funds slash bullish wagers on gold over Trump election win
Iron ore price flirts with key $100/t level on firm demand, China stimulus hopes
Families gather at South African mine shaft where hundreds are feared stuck underground
BHP to spend up to $14 billion on Chilean copper expansion
Chile’s rare salt flat fish faces threat from lithium mining project
British Columbia creates new mining ministry to tackle critical minerals amid doubts over capacity
China’s germanium, gallium ban could cost the US $3.4 billion
South Africa police standoff with illegal gold miners escalates
Iran Alloy Steel Company intends to purchase 150 tons of Low-Carbon Ferro Manganese through public tender
Iran Alloy Steel Company intends to purchase 12 tons of ferrotungsten through public tender
Iron ore price flirts with key $100/t level on firm demand, China stimulus hopes
Newmont sells Ontario gold mine to Orla for $850 million
BHP warns Australian mining not ready for low-cost competitors
Iran Alloy Steel Company intends to purchase 12 tons of ferrotungsten through public tender
Iran Alloy Steel Company intends to purchase 150 tons of Low-Carbon Ferro Manganese through public tender
Chile’s rare salt flat fish faces threat from lithium mining project
British Columbia creates new mining ministry to tackle critical minerals amid doubts over capacity
Newmont sells Ontario gold mine to Orla for $850 million
BHP warns Australian mining not ready for low-cost competitors
Resolute Mining says it will pay Mali $160 million in tax dispute
Trump chooses oil fracking boss as energy secretary
Gold loses some luster after Trump’s decisive win
