India’s largest Iron ore miner & exporter-NMDC is yet to take a call on prices for the month of May’15 and might review prices next week.
National Mineral Development Corporation, NMDC is yet to review prices for this month. The miner reviews prices on monthly basis but it had made a surprise cut of INR 200-500/MT in Iron ore prices w.e.f. 18 Apr’15. It had reduced prices in order to compete with cheaper imports.
NMDC Iron Ore Prices
|
Month |
10-150 mm (Fe 65%) | 10-40 mm, DR CLO (Fe 67%) | 6-40 mm (Fe 65%) |
Blue Dust/Fines (Fe 64%) |
| Apr’15* | 2,660 | 3,840 | 3,050 | 1,960 |
| Apr’15 | 2,860 | 4,040 | 3,250 | 2,460 |
| Mar’15 | 2,860 | 4,040 | 3,250 | 2,460 |
| Feb’15 | 3,300 | 4,540 | 3,750 | 2,760 |
| Jan’15 | 3,690 | 4,990 | 4,200 | 3,060 |
*Prices effective from 18-30 Apr’15
Royalty and other taxes extra
Source: SteelMint Research
INR has depreciated to its lowest level in 2015 and is at 64 levels against USD which will make imports expensive. Prices of South African lump (Fe 64%) are currently at USD 75/MT, CNF Kandla for June deliveries.
In Apr’15, NMDC’s Iron ore exports from India remained nil. Its Long term Trade Agreements (LTAs) for supply of high grade Iron ore to South Korea & Japan ended on 31 Mar, 2015 and proposal for renewal of LTAs for 3 years w.e.f. 01 Apr, 2015 was tabled in the Parliament on 29 Apr, 2015.
Iron ore dispatches from NMDC Chhattisgarh fell by about 28% M-o-M in Apr’15. On similar lines, NMDC’s supply to CG based steel units also fell from 100 rakes in Mar’15 to 72 rakes in Apr’15. Dispatches have fallen on the backdrop of falling demand from Sponge iron & Pellet makers.
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