Indian state-run iron ore miner has announced unchanged prices for current month deliveries, company sources said late last week. Since demand for steel did not improve in late August-early September, iron ore prices also showed no change. However, since yesterday, September 12, some Indian mills have started to announce a slight rebound in HRC prices, which could be the signal also for the next positive move in the local iron ore market.
So far, prices of iron ore lumps have remained at INR 4,100/mt ($89.30/mt) ex-pithead and prices of fines at INR 2,910/mt ($27.54/mt) ex-pithead.
The prices are exclusive of royalty and mandatory payments to District Mineral Fund (DMF), National Mineral Exploration Trust (NMET), cess, forest permit fees and other statutory payments.
$1 = INR 79.50