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The price of iron ore has fluctuated over the last eleven years, with the highest price achieved for one dry metric ton unit (dmtu) of iron ore being US$168 in 2011. The price dramatically decreased to US$40.50 per dmtu in December 2015 with a gradual increase to US$88.20 per dmtu as of February 2019 (Statista, 2019).

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It also has a plan to set up iron ore beneficiation plants to use low grade ore fines extracted from the mines," the report further added. However, that may not be in the immediate term. According to the company's corporate presentation, SAIL has plans of setting up new pellet plants that would use the existing reserve of fines including dumps and slimes at captive mines.

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