Page 7 - Iron Ore

Price of iron ore fines jumps by 17%, lumps by 11% as steel prices soften

The price of iron ore, excluding that in Karnataka, have jumped by 17 per cent for fines and 11 per cent for lumps in this financial year (starting April 1), in contrast to a five per cent slide in steel (TMT bar) prices in the same period. With construction activity hit by the ongoing monsoon and a global trade war threatening to create a glut in the domestic market, the steel industry is keeping its fingers crossed. Any further rise in home iron ore prices could impact their margins.Ore prices have risen after a minor dip in April and May. In July, the price of 62.5 per cent Fe (iron content) fines rose from Rs 2,100 a tonne to Rs 2,400. Lump prices rose from Rs 4,925 to Rs 5,175 a tonne. Year-on-year, the rate for fines is up 113 per cent; lumps by 97 per cent. The rise in these four months of 2018-19 has been 11 per cent for lumps and 17 per cent for fines.In contrast, faced with muted demand growth, steel prices have fallen from Rs 41,000 a tonne to Rs 39,000 a tonne, down five ..

Country's iron ore prices defied global trends to surge 41% in FY18

Globally, benchmark prices of iron ore fines (62 Fe grade) inched up by only 1.7% in last financial year to $69 a tonne

Mining woes: Karnataka iron ore companies unable to clear stocks

Mining industry's apex body, Federation of Indian Mineral Industries (FIMI), has decided to move the Supreme Court with an app

Iron ore stocks climb on falling exports, fragile demand

At the end of 2016-17, 148.66 million tonnes of iron ore had accumulated at the mine pit heads and the figure is estimated to breach 150 million tonnes by 2017-18 end

Iron ore output to reach 210 million this fiscal: Indian Bureau of Mines

Indian Bureau of Mines (IBM) has estimated the iron ore production in the country in the current fiscal at about 210 million tonne, 9 per cent more than the previous fiscal. Last year, the country had produced 192 million tonne of iron ore.The projection of higher production has come as a relief to the steel industry which was feeling jittery over disruption in mining operations in Odisha and Goa during the year and its subsequent impact on the iron ore prices.Odisha, which produced 102 million tonne iron ore, 53 per cent of the country's total iron ore output of 192 million tonne last year, is poised to retain the top slot this year as well.By the end of last week, the state had produced 99 million tonne, two million tonne more than the output achieved in the comparable period last year and in the remaining days of this fiscal, the state is expected to cross the previous year's record, said an official source. On sales front also, iron ore despatches have gone up by 7.14 per cent to .

New ground realities in iron ore

An increase in court-mandated production caps offers miners some marginal relief; export duty cuts are their next demand

Iron ore from paradise wins no takers as China upends market

China's push to clean the air has exploded the price differential between high and low grades

Iron ore, liquid cargo drive volume growth at major ports

During the period under review, iron ore cargo including iron ore pellets surged by 23.48 per cent

Govt might fix output floor for iron ore mines

Iron ore production saw 23% growth in 2016-17 over a year before, at 190 mt: Macquarie

Record iron ore glut of 204 mt to trigger price fall

Analysts feel huge domestic surplus together with global iron ore prices entering bear territory

Miners warn of 80-mt iron ore deficit on lease extension delay

Licences of 250 mines are set to lapse in three years from now

Iron ore exports to lose steam in FY18 on weak price outlook

After staging a sharp recovery in last fiscal, iron ore exports from the country may lose momentum in FY18 as iron ore trade has entered the bear territory.Exports of iron ore rose four-fold in 2016-17 to 24 million tonne (mt) compared to six mt in the year ago fiscal. Exports were largely helped by a spike in international prices that touched a peak of $95 a tonne. Strong price sentiment was fuelled by demand pick up in China where iron ore inventory at ports reached a record 133 mt, the highest since 2004. The surge in exports had sparked hope of revival in iron ore exports from India which has once been a leading player in global seaborne trade.But, the collapse in iron ore prices have doused hopes for the exporters. Benchmark prices of iron ore tumbled to a six-month low of $61 per tonne, plunging 30 per cent from the February peak before rebounding 2.2 per cent to $64."Iron ore exports had picked up on bullish price trends. Even with the steep export duty of 30 per cent, miners ..

Shipping firms to benefit from rising iron ore exports to China

Overall trade scenario in terms of volumes and freight rates have improved on India-China route

Iron ore prices to remain high

Demand remains buoyant despite supply glut

Iron ore output beats ban blues, surges 27% to 154 million tonnes

Output had nosedived 9.4% between 2012-16 after mining ban in 3 states, which has since been lifted

Iron ore industry demands market driven price

Just at time when the domestic iron ore industry had started recovering from slowdown in demand, the central government is planning to cap price of the natural resource in order to make cheaper raw material available to the steel industry. But the iron industry says price should be market determined.Over supply of iron ore from China had kept the price muted in the past. However, with the improvement of demand in China the prices have seen an upward movement.According to sources, the central government is planning to put a cap on the price of iron ore, which would enable steel producers to procure the raw material at a cheap cost. Niti Aayog has been mandated to examine the proposal.The move will help the steel industry further after expiration of the minimum import price that cushioned the domestic sector from cheap imports mainly from China, for one year.In steel making, raw material holds the major portion of overall cost. For small steel producers who follow Blast Furnace route, ..

Iron ore production in Odisha has touched a peak of 85 mt

Going by current production rate state's iron ore output can breach 100 mt

Aggressive bids for iron ore plots at Paradip port may dent exports

Iron ore traffic has witnessed a rebound in this fiscal from the major port

Iron ore shipments surge 154% through major ports

Mormugao port was biggest gainer with a volume of 9.34 mt compared to 1.49 mt in the year-ago period

Iron ore stocks up on less offtake, export duty

Data from the Indian Bureau of Mines shows the total stock of ore at end-July was 144.5 million tonnes