Odisha’s Serajuddin Mine Cut Iron Ore Lump Offers - Sources

Serajuddin- Odisha's major merchant iron ore miner has decreased iron ore lump offers effective from today(02 Aug’19). Miner has lowered prices for 5-18 mm (Fe 63%) by INR 300/MT to INR 3,700/MT (ex-mines, including Royalty, DMF, & NMET) as against last offers at INR 4,000/MT (ex-mines, GST extra). However, as per sources, fines prices have remained unchanged.

The miner lowered prices on the back of fall in sponge prices. C-DRI prices in Durgapur fell by INR 1,000/MT in last one month. Current assessment stands at INR 17,000/MT delivered Durgapur.

Serajuddin mine recorded iron ore dispatches at 1.13 MnT in June'19, up 19% against 0.95 MnT in May'19. Serajuddin mine produces around 10 MnT iron ore annually and has an EC limit of 15.15 MnT p.a.

source: SteelMint