NMDC keeps Iron ore Prices Unchanged for Mar’14

NMDC, a state controlled and India’s largest Iron ore miner with 32 MnT pa installed capacity, has rolled over Iron ore price for March.

Source said, “Iron ore prices are unchanged for March owing to constant demand. In addition, there was no price change in Odisha which kept the prices at the same level.”

Iron ore prices remain constant at about INR 4,500/MT (Fe 65 & 6-40 mm) and at about INR 3,950/MT (Fe 65 & 10-150 mm). Higher grade lumps (Fe 67 & 10-40 mm) offers are quoted at around INR 5,190/MT.

Iron ore sales in February, increased to about 3.1 MnT from 2.9 MnT against January. NMDC sold 1.1 MnT of Iron ore through Karnataka e-auction in the month of February, 2014.