NMDC, India’s largest and state owned Iron ore producer with annual production of 30 MnT, has rolled over prices for Sep’14. Prices, which are reviewed on monthly basis, have remained constant since Jun’14.
NMDC Iron Ore Prices for September, 2014
|
Material Type |
Grade (Fe) |
Size (mm) |
Prices (INR/MT) |
|
DR CLO |
67 |
10-40 |
5,390 |
|
Baila Lumps |
65 |
6-40 |
4,600 |
|
Baila ROM |
65 |
10-150 |
4,030 |
|
Fines |
64 |
0-10 |
3,160 |
Royalty @ 10%; bonus/penalty and other taxes extra
NMDC has achieved highest production figure at 2.23 MnT in August, 2014 i.e. moved up by 14% Y-o-Y after August, 2011. It sold 2.52 MnT Iron ore last month – up by 23% Y-o-Y. The company has dispatched 403 rakes in Aug’13, which has increased by 2.5% (393 rakes) in comparison to last month.
Iron ore demand continues to be decent owing to the key raw material shortfall in Odisha, which has ultimately impacted Pellet production.
NMDC Iron Ore Production & Sales
|
Month |
Production |
Sales |
|
Aug’14 |
2.23 |
2.52 |
|
Jul’14 |
2.03 |
2.52 |
|
Jun’14 |
2.90 |
2.85 |
Qty in MnT
Source: SteelMint Research
Odisha’s largest merchant miners Rungta Mines & Essel mining have also maintained prices at the last month’s level. Fe 63% Fines is being offered at around INR 3,050/MT (as per loaded to wagons; including royalty) and CLO (Fe 62%) is offered at around INR 6,050/MT (as per loaded to wagons). Serajuddin Mines and Indrani Patnaik are offering Iron ore but only for state based companies in order to comply 50:50 rule issued by the state government.
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