Iron ore prices likely to bounce back in H2FY21, expected to gain 15%

Recovery in domestic iron ore prices would be propelled by demand uptick as steel makers are expected to ramp up capacity utilisation with concerns easing on the Covid-19 pandemic

Despite the Covid-19 pandemic, the country’s iron prices are projected to bounce back in the second half (H2) of this financial year. 

Currently depressed, iron ore prices are slated to gain 15 per cent (Rs 350 per tonne), according to a forecast by brokerage firm Motilal Oswal. 

After a recent price correction (on May 9), NMDC’s iron ore fines are priced at Rs 1,960 per tonne, whereas lumps would be available for Rs 2,250 per tonne.

Iron ore prices of Odisha Mining Corporation (OMC) are in the range of Rs 1,700-2,452/tonne while lumps can be procured anywhere between Rs 2,380 and Rs 3,439