IRON-ORE
The rising international price of iron-ore has triggered a 10% spike in India’s domestic price and has raised the specter of shortages for domestic steel mills as larger volumes are being diverted for overseas shipments.
Information collated from at least three miner-exporters with operations in Odisha indicates that with international prices of high grade iron-ore fines (Fe content 63.5% and above) hitting a recent high of $80/t CFR China, local merchant and miner-exporters are securing higher margins from overseas shipments than from domestic sales.
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