Indian domestic iron ore spot prices surge by 10% - 02 Jul, 2008
We had reported on June 29th 2008, that after Orissa Mining Corporation’s latest quarterly tender on for sale of iron ore during July to September 2008, the market prices of iron ore in Orissa are expected to surge by INR 500 per tonne
As per reports received this morning, the prices of iron ore in Burwil area of Orissa have gone up by INR 500 per tonne.
Product
Grade
Size
30-Jun
1-Jul
Change
%
Iron ore - BF
Fe 65%
10-40
5000
5500
500
10.00%
Iron ore - Sponge
Fe 63%
05/18/08
6100
6600
500
8.20%
1. Rates are in INR per tonne
2. Rates are Ex mines but include loading into rakes
3. VAT or CST is in addition
4. Royalty is INR 19 per tonne for Fe content of 63 and INR 27 per tonne for Fe content of 65%
