Iron ore prices to remain high

Demand remains buoyant despite supply glut

Domestic iron ore prices are expected to remain high in the coming months, beating down factors that could put downward pressure on the key steel-making raw material, industry executives said on Tuesday.

State-owned Odisha Mining Corporation (OMC) has hiked its floor price for April. The price of iron ore lumps was raised by 16 per cent to Rs 2,800 per tonne from Rs 2,400 in February, and that of fines was hiked by 14 per cent to Rs 1,600 per tonne from Rs 1,400 per tonne. The sponge iron industry’s demand for lumps and the pellet segment’s demand for fines triggered