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OMC keeps iron ore fines rate unchanged
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Wednesday, 21 Aug 2013

Business Standard reported that Odisha Mining Corporation has kept iron ore fine rates unchanged for August to October period as strong global cues and sluggish local demand balanced the demand for the steel making commodity.

In its price setting tender, the traders had bid for similar rates for the fines as they did during May to July period. OMC has plans to sell about 800,000 tonne fines in the three month period ending October.

The rate for Gandhamardana sector fines having 62 per cent Fe content now rules at Rs 2,060 per tonne, and for 54 to 60 grade fines, the rate is Rs 1,520 per tonne, same as the previous period. OMC has earmarked to sell about 450,000 tonne fines from this area.

A source said that "Gandhamardana fines has better demand generally as many plants from nearby districts have easy access to this area. But due to poor demand the rates did not rise this time.”

For Daitari regions iron ore fines, the rates have slipped to INR 1,501 per tonne, lower than INR 1,681 a tonne earlier. Ore produced from this region is primarily meant for Neelachal Ispat, which produces specialized steel billets.

Source - Business Standard


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