India’s largest iron ore miner – National Mineral Development Corporation (NMDC) has today announced that it’s keeping iron ore prices unchanged from it Chhattisgarh mines.
In the iron ore auction conducted by miner on 23rd Oct, miner fetched flat bids for DR CLO and placed at the base price of INR 4,655/MT (basic) with entire quantity of 40,000 MT DR-CLO getting booked unlike previous month’s auction on 14th Sept’18 auction which fetched a high premium of around INR 1,020/MT against base price.
Odisha based merchant iron ore miner’s are holding the same offers this month except Essel Mining which had cut prices by INR 300/MT at the beginning of Oct’18. However, miners have increased trade discounts by INR 100-200/MT M-o-M to escalate buying interest.
Domestic Sponge iron prices in central India have come down in a month’s time by around INR 1,500/MT. Raw pellet prices in Raipur have also weakened by INR 300-400/MT M-o-M.
NMDC had announced iron ore price hike twice during Sept’18. On 26th Sept’18 during its second hike company had increased prices by INR 200-360 /MT.
NMDC (C.G.) iron ore prices-
| Size | Grade (Fe %) | Prices (INR) | Change (INR/MT) |
| 10-40 mm, DR CLO | 67 | 4,620 | = |
| Baila lump, 6-40 mm | 65 | 3,850 | = |
| ROM, 10-150 mm | 65 | 3,560 | = |
| Blue Dust/Fines | 64 | 3,310 | = |
F.O.R prices in INR/MT
Royalty, DMF, NMET and other taxes extra
Source: SteelMint Research
NMDC (C.G.) Iron Ore Rake Movement Increased 54% in Sep’18 – NMDC supplied 241 rakes of iron ore in Sep’18, up 54% on monthly basis, against 157 rakes in Aug’18. Procurement of NMDC iron ore by Chhattisgarh based units increased significantly to 44 rakes in Sep’18 as against being 18 rakes in Aug’18. JSW Steel (Dolvi) sourcing from NMDC increased to 19 rakes in Sep’18 as against 12 rakes a month before.
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