NMDC, India’s largest Iron ore miner with 32 MnT pa installed production capacity, has decided to maintain January Iron ore prices at last months level.

NMDC Iron ore prices for Jan 2014:

6-40 mm & Fe 65 Kirandul lumps INR 4,500/MT
10-150 mm & Fe 64 Bacheli ROM INR 3,950/MT
Fe 64 fines INR 2,810/MT

Basic prices, excluding royalty and taxes

The state owned miner has in line with stability in Odisha Iron ore prices for the current month, kept offers unchanged. Also, off take in both fines and lumps was good.

The company had raised offers by INR 300/MT in Q3 FY14 because of improved sales volume in Apr-Sep 2013 and better demand. Any further increase in offers would not be absorbed by market.

Logistical problems hampered Iron ore dispatches as issues around availability of rakes in Bailadila as per requirement, remain unresolved.

In Dec 2013, NMDC has produced 2.8 MnT Iron ore and sold 2.7 MnT of the raw material. In Q3 FY14, total production and sales stood at 7.3 MnT and 7.4 MnT respectively.

Qty in MnT