- NMDC keeps Iron ore prices unchanged for August deliveries
- Odisha based miners also rolled over prices for August
- Sponge iron prices stable amid short supply of Iron ore from Odisha
State-run and India’s largest Iron ore miner, National Mineral Development Corporation (NMDC) has kept prices of key raw material unchanged for August amid falling steel prices in domestic market. However, with limited supply of ore from Odisha, Sponge iron prices have managed to find support.
NMDC with an annual production of 30 MnT has rolled over the July prices of Lump ore at INR 4,600/MT and Fines at INR 3,160/MT, DR CLO at INR 5,390/MT and ROM at INR 4,030/MT to the month of August, 2014 (all prices are basic, royalty & taxes extra).
The company reviews price every month. In the month of June, NMDC had raised the lump ore prices, which contains more Iron and used mostly by domestic steel makers, by INR 300/MT and fines by INR 250/MT.
Supply from Odisha still remains Critical
Iron ore supplies from Odisha has been critical since the Supreme Court had asked Odisha government to suspend mines running under 2nd deemed renewal. Earlier, supply has also been disturbed after the state government imposed a mandatory 50% sale to industries based in state.
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