National Mineral Development Corporation (NMDC) has reduced iron ore prices by upto 12% M-o-M for June’16 deliveries. Baila lump and fines prices have come down by INR 200/MT, ROM by INR 180/MT and DR-CLO prices have fallen by INR 230/MT.
In May’16, the miner had cut prices by upto 11% following which procurement from Chhattisgarh based sponge units had improved considerably. Sponge iron prices in central India have declined by around INR 500/MT M-o-M pressurizing domestic iron ore prices.
NMDC Iron Ore Prices for Jun’16
|
Size |
Grade (Fe %) | Prices | Change | |
| (in INR/MT) |
(in %) |
|||
| 10-40 mm, DR CLO | 67 | 2,070 | -230 | -10% |
| Baila lump , 6-40 mm | 65 | 1,800 | -200 | -10% |
| ROM, 10-150 mm | 65 | 1,620 | -180 | -10% |
| Blue Dust/ Fines | 64 | 1,460 | -200 | -12% |
Prices w.e.f 02 Jun’16 in INR/MT excluding DMF@30% of royalty
Royalty@15% and other taxes extra
Source: SteelMint Research
Dispatches from NMDC (C.G.) remain stable in May’16, drop in Karnataka
Iron ore dispatches from NMDC (C.G.) have remained stable on monthly premises. 272 rakes of iron ore were supplied from NMDC’s Bailadila mines in May’16.
Chhattisgarh based units have raised iron ore procurement in May’16 by 63% M-o-M from 38 rakes in Apr’16 to 62 rakes in May’16. Procurement from outside state based units has remained stable.
NMDC’s iron ore sales via Karnataka e-auctions dropped in May’16. NMDC sold 0.85 MnT in May’16 against 1.03 MnT in Apr’16.
NMDC’s iron ore exports down by 28% M-o-M
NMDC exported 0.21 MnT iron ore in May’16 compared to 0.29 MnT in Apr’16.
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