India’s largest iron ore miner – National Mineral Development Corporation (NMDC) has announced price revision today. NMDC (Chhattisgarh) increased prices by INR 140-180/MT with effect from today. Baila fines and lumps prices have moved up by INR 150/MT and prices of ROM by INR 140/MT. DR-CLO prices have increased by INR 180/MT. As per market sources, owing to increased demand of high grade ore in domestic market, NMDC iron ore has increased the prices.
NMDC supplied a total of 316 rakes of iron ore from Bailadila mines in Jun’18. Procurement of NMDC iron ore by Chhattisgarh based units increased to 50 rakes in June’18 as against 43 rakes in May’18 by units within the state. KIOCL has increased its sourcing sharply by 27% to 57 rakes in June’18 compared to 45 iron ore rakes from NMDC in May’18.
Out of the total rakes supplied, major rakes were procured by units outside Chhattisgarh at 266 rakes, down marginally against 276 rakes in May’18.
NMDC iron ore exports have depicted nil for third consecutive month since Apr’18. Iron ore exported by NMDC under MMTC under Long-Term Agreement was subject to an export duty of 10% which expired on 31 Mar’18. There has been no update regarding duty structure till date.
NMDC (C.G.) iron ore prices
| Size | Grade (Fe %) | Prices (INR) | Change (INR/MT) |
| 10-40 mm, DR CLO | 67 | 3,720 | +180 |
| Baila lump , 6-40 mm | 65 | 3,200 | +150 |
| ROM, 10-150 mm | 65 | 2,950 | +140 |
| Blue Dust/Fines | 64 | 2,810 | +150 |
F.O.R prices in INR/MT w.e.f today
Royalty, DMF, NMET and other taxes extra
Source: SteelMint Research
NMDC keeps base prices unchanged in Karnataka –
Base prices for NMDC, Karnataka remain unchanged against the last revision made on 22nd June. The miner had reduced prices by around INR 300/MT then. NMDC Donimalai fines (Fe 60.2%) base price is around INR 2,470/MT (basic) and for Fe 62.5% lump INR 2,993/MT (basic) . All prices mentioned are basic. Royalty and other taxes extra.
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