NMDC has lowered its Iron ore lumps price for the month of March and has considered no alteration in prices of fines.
An NMDC official told SteelMint, “Our Baila lumps is being quoted at Rs 110/MT (2.2%) less to Rs 4,950/MT, which was earlier standing at Rs 5,060/MT as sales in domestic market has come down.
Whereas, fines of Fe% less than 63 will be offered at similar prices, standing at Rs 2,610/MT (Prices inclusive of Royalty and taxes).
Demand for fines is good and we have been able to sell out more of fines as compared to lumps, in the e-auctions.”
Industry Expected More
Although NMDC has cut its March prices, but industry was expecting much more specially when iron ore prices in Odisha are comparatively much cheaper.
“We expected substantial fall in NMDC iron ore prices, when private miners in Odisha are cutting their iron ore prices. Currently landed cost of 64% Fe Calibrated Iron Ore from NMDC costs us around Rs 8,400/t, almost same grade from Odisha will cost us around Rs 7,400/t.
Landed cost of iron ore fines from Odisha will cost us around Rs 3,200/t, where as Iron Ore Fines from NMDC will cost us Rs 4,400/t landed Raipur, Chattisgarh,” said a manufacturer based in Chattisgarh.
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