National Mineral Development Corporation (NMDC) has reduced iron ore prices by upto INR 110/MT M-o-M for July’16 deliveries. Baila lump and ROM prices have come down by INR 90-100/MT, DR-CLO prices have fallen by INR 110/MT whereas Fines price remain unchanged.
In June’16, the miner had cut prices by upto 12% and in month of May’16 by 11%. Sponge iron prices in central India have declined by around INR 300/MT M-o-M. Odisha merchant miners are also giving rebate in prices by INR 100-200/MT but its officials announcement yet to come.
NMDC Iron Ore Prices for July’16
| Size | Grade (Fe %) | Prices | Change | |
| (in INR/MT) | (in %) | |||
| 10-40 mm, DR CLO | 67 | 1,960 | -110 | -5% |
| Baila lump , 6-40 mm | 65 | 1,700 | -100 | -6% |
| ROM, 10-150 mm | 65 | 1,530 | -90 | -6% |
| Blue Dust/ Fines | 64 | 1,460 | 0 | 0% |
Prices w.e.f 02 July’16 in INR/MT excluding DMF@30% of royalty
Royalty@15% and other taxes extra
Source: SteelMint Research
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