| Clips | ||
| KIOCL iron ore pellet bids fall to USD 54 per tonne - 21 Nov, 2008 | ||
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Steel Insights reported that India's leading DRI grade iron ore pellet producer exporter, Kudremukh Iron Ore Company Limited quoted price of iron ore pellet in the past one month have fallen by nearly 80% to touch a low of USD 54 per tonne. Mr Ranganath CMD of Kudremukh Iron Ore Company Limited said in Hyderabad on the sidelines of Indian Steel Making Raw Materials Conference that "According to quotations received with us, pellet prices, which was at USD 245 per tonne in the beginning of October down to USD 119 and then to USD 95 and then again to USD 75 before touching a low of USD 54 per tonne as per last information." He said that these are only quotes available and there was not a single transaction by the company since the last one at a rate of USD 245 towards end of September. Mr Ranganath said that it called the bidders for their pellets for negotiations, but they added that they can't increase bid prices in the current situation. He said that "However, when we made counter offer, the price went up to USD 70 from a low of USD 54." He said that "It is very difficult to understand, how the market is and how it is functioning, but no transactions have taken place to surely say that this is the price. Only quotes are available in the market." He added that the last transaction that KIOCL did was in the end of September and at that time it had got a price of USD 245. That shipment took place in the beginning of October. | ||
| News And Trends | ||
 | Indian iron ore spot prices decline last week | |
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| Indian iron ore spot prices decline last week | |
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| Indian iron ore spot prices decline last week | |
