Price of iron ore fines jumps by 17%, lumps by 11% as steel prices soften

In July, the price of 62.5 per cent Fe (iron content) fines rose from Rs 2,100 a tonne to Rs 2,400

The price of iron ore, excluding that in Karnataka, have jumped by 17 per cent for fines and 11 per cent for lumps in this financial year (starting April 1), in contrast to a five per cent slide in steel (TMT bar) prices in the same period.

With construction activity hit by the ongoing monsoon and a global trade war threatening to create a glut in the domestic market, the steel industry is keeping its fingers crossed. Any further rise in home iron ore prices could impact their margins.

Ore prices have risen after a minor dip in April and May. In