December 02, 2008
Indian domestic iron ore spot prices surge by 10% (WEEK 27)
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 On July 1st 2008, the prices of iron ore in Burwil area of Orissa have gone up by INR 500 per tonne.
| Product | Grade | Size | 30-Jun | 4-Jul | Change | % |
| Iron ore - BF | Fe 65% | Oct-40 | 5000 | 5500 | 500 | 10.0% |
| Iron ore - Sponge | Fe 63% | 18-May | 6100 | 6600 | 500 | 8.2% |
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%
(Sourced from www.steelprices-india.com)
