Data monitor: Iron prices down but supply remains tight

By: |
October 18, 2021 3:15 AM

The domestic iron ore market has been facing a supply crunch since the expiry of leases on 37 operational mines (40-45 MT equivalent) in March 2020, which coincided with a nationwide lockdown.

iron ore pricesThe company's sales during the month were at 3.58 MT, higher 42 per cent from 2.52 MT in October last year. (File)

Global iron ore prices have slid from a 10-year high of $214 per tonne in June to $125 per tonne as of October first week.

Domestic prices have mirrored the global trajectory, correcting 28% from a high of Rs 7,787/tonne in July. However, the fall in domestic prices has been less steep compared with the global slide.

The domestic iron ore market has been facing a supply crunch since the expiry of leases on 37 operational mines (40-45 MT equivalent) in March 2020, which coincided with a nationwide lockdown.

Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, Check out latest IPO News, Best Performing IPOs, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1New Development: IndiGo promoters call EGM to amend AoA
2Rise in borrowing cost to elevate further on global yield movement, domestic macros: Marzban Irani
3Captive power plants continue to suffer from coal shortage