NMDC, a state owned and India's largest Iron ore producer in terms of installed capacity of 30 MnT pa, has raised Iron ore offers , after one year's time.
NMDC's October Iron ore prices:
Iron ore lumps
6-40 mm & Fe 65 Kirandul lumps INR 4,300/MT (+100)
10-150 mm & Fe 64 Bacheli ROM INR 3,750/MT (+90)
Fe 64 Iron ore fines INR 2,610/MT (+100)
Basic prices, excluding royalty and taxes
Offers have been raised bY 2.4-4% because of improved sales in H1 (April-September 2013) and also as demand is looking up.
Total production and sales in H1, stood at 12.8 MnT and 13.7 MnT i.e. production of 5.9 MnT in Q2 FY14 and 6.92 MnT in Q1 FY14 and sales were 6.48 MnT in Q2 FY14 and 7.25 in Q1 FY14.
In September alone, the company's total production and sales stood at 2.1 MnT and 2.3 MnT respectively.
Since October 2012, the company had either lowered prices or kept them unchanged, as demand was not very encouraging.
The last increase was seen in September 2012, when the miners Iron ore prices went up by INR 710/MT (6-40 mm) and INR 230/MT (fines).
In FY 13, NMDC's total Iron ore production was 27.2 MnT and sales stood at 26.27 MnT.
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