India’s largest iron ore miner, NMDC supplied 206 rakes of iron ore down by 35% in Jul’18, against 316 rakes Jun’18.
National Mineral Development Corporation (NMDC) had announced price revision and increased prices by INR 140-180/MT with effect from 10th July 2018. Baila fines and lumps prices moved up by INR 150/MT and prices of ROM by INR 140/MT. DR-CLO prices increased by INR 180/MT.
Procurement by C.G. based unit’s decreased 32% M-o-M in Jul’18:-
Procurement of NMDC iron ore by Chhattisgarh based units decreased to 34 rakes in Jul’18 as against 50 rakes in Jun’18 by units within the state. However, from last few month procurements has been towards the lower side as CG based units usually procure 65-70 rakes of iron ore every month from NMDC, Chhattisgarh. Amid monsoon, rake movement was affected.
JSW Dolvi decreased its procurement from NMDC (C.G) sharply by 63% M-o-M:
The procurement by units outside C.G has dropped by 35% M-o-M to 172 rakes in Jul’18 as against 266 rakes in Jun’18.
JSW Steel (Dolvi) sourcing from NMDC decreased sharply by 63% in Jul’18 to 18 rakes as against 48 rakes in Jun’18.
RINL has depicted decline in procurement from NMDC Bailadila mines for the third consecutive month by 25% in Jul’18 at 117 rakes as against being 155 rakes a month before.
KIOCL has also decreased its sourcing sharply by 60% to 23 rakes in Jul’18 compared to 57 iron ore rakes from NMDC in Jun’18.
Iron ore Export Duty Unchanged for NMDC-:
on 11th Jul’18, Indian government kept export duty unchanged at 10% for iron ore exported from National Mineral Development Corporation (NMDC) to Japanese and Korean mills under Long Term Trade Agreement (LTA).
No movement for iron ore exports reported in Jul’18. NMDC iron ore exports have depicted nil for the fourth consecutive month since Apr’18.
NMDC (C.G.) Iron ore rake movement: Jul’18 Vs. Jun’18
| Seller | Buyer | Jul-18 | Jun-18 |
| NMDC(CG) to Chhattisgarh based Plant | Jindal Steel & Power Ltd | 7 | – |
| API Ispat & Power | 3 | 4 | |
| Gopani Iron & Power Ltd. | 3 | 2 | |
| Nutan Ispat & Power Ltd. | 2 | 2 | |
| Vandana Global Ltd | 2 | 1 | |
| Lloyds Steel | 2 | 1 | |
| Rama Udyog Pvt Ltd | 1 | – | |
| Shri Nakoda Ispat Ltd | 1 | 3 | |
| Shivalay Ispat & Power Pvt Ltd | 1 | 1 | |
| Agrawal Structure Mills Pvt Ltd | 1 | – | |
| Ghankun Steel Pvt. Ltd. | 1 | 2 | |
| Bhagwati Power Steel | 1 | 1 | |
| Real Ispat & Power Ltd | 1 | 1 | |
| Vraj Metaliks Private Limited | 1 | 2 | |
| Shree Shyam Sponge & Power Ltd | 1 | – | |
| Aarti Sponge & Power Ltd | 1 | 2 | |
| SKS Ispat | 1 | 3 | |
| Niros Ispat | 1 | 4 | |
| Gopal Sponge | 1 | 1 | |
| Devi Iron & Power Ltd | 1 | 3 | |
| Monnet Ispat & Energy Ltd | 1 | 4 | |
| Rajuri Steels & Alloys Pvt. Ltd. | – | 1 | |
| Grace Industries | – | 1 | |
| Mahendra Sponge & Power Ltd | – | 1 | |
| Shilpy Steels Pvt Ltd | – | 1 | |
| Phil Ispat | – | 2 | |
| Hi-Tech Power Steel | – | 3 | |
| Vaswani Industries | – | 1 | |
| Drolia Electrosteel Ltd | – | 1 | |
| Mahendra Sponge & Power Ltd (Unit II) | – | 1 | |
| Shree Sita Ispat & Power Pvt. Ltd. | – | 1 | |
| Total | 34 | 50 | |
| NMDC(C.G.) to Other State | Rashtriya Ispat Nigam Ltd | 117 | 155 |
| Kudremukh Iron Ore Company Ltd | 23 | 57 | |
| JSW Steel, Dolvi | 18 | 48 | |
| ElectroSteel Steels Ltd | 5 | 1 | |
| Steel Exchange India Ltd | 4 | 1 | |
| Jindal Steel & Power Ltd | 3 | – | |
| Pushpit Steels Pvt. Ltd | 1 | – | |
| Noble Tech Industries Ltd. | 1 | 1 | |
| Amoda Iron & Steel Ltd | – | 1 | |
| Maha Maya | – | 2 | |
| Total | 172 | 266 | |
| Export | – | – | |
| Grand Total | 206 | 316 | |
Each rake carries approximately 3,850 MT iron ore
Source: SteelMint Research, Railways
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