NMDC, a state controlled and India’s largest Iron ore miner with 32 MnT pa installed production capacity, has decided to hold Iron ore prices for November 2013 at levels equal to the month of October.
NMDC’s Iron ore prices for November 2013
Iron ore lumps
6-40 mm & Fe 65 Kirandul lumps INR 4,300/MT
10-150 mm & Fe 64 Bacheli ROM INR 3,750/MT
Iron ore fines
Fe 64 fines INR 2,610/MT
Basic prices, excluding royalty and taxes
Though, NMDC’s Iron ore production and dispatches were hampered in the past month because of monsoons, but higher sales volume in comparison to production resulted in no alteration in prices for the current month.
In October 2013, a total of 1.9 MnT of Iron ore was produced by NMDC . Whereas, its total sales stood at 2.26 MnT.
After 12 months time, NMDC was able to raise Iron ore prices by INR 100/MT in the month of October this year as sales improved and domestic demand looked better.
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