- NMDC hikes iron ore prices for Aug’25
- Positive sentiment in Odisha market
This week, iron ore concentrate offers in Jabalpur, central India, remained firm, despite a price hike by the National Mineral Development Corporation (NMDC). Trading activity at higher prices and positive sentiments in the pellet and Odisha iron ore markets supported prices, sources informed BigMint.
BigMint’s bi-weekly iron ore concentrate index stood at INR 4,550/tonne (t) ($52/t) exw-Jabalpur, stable in comparison with the previous assessment on 2 August 2025. Meanwhile, Fe 63% concentrate prices were assessed stable at INR 4,700/t ($54/t) exw.
Sources said logistical disruptions caused by persistent rains and railway restrictions, which had previously impacted supply chains, have eased in recent days. As a result, material dispatches that were previously delayed have now resumed, although a shortage of material remains due to earlier backlogs.
Despite NMDC’s price revision, some Jabalpur-based sellers remain cautious. One seller told BigMint, “We are not offering in the market yet, as we await clearer market signals.”
Rationale
- One (1) trade of 12,000 t was recorded in this publishing window and were not considered under T1 trade. These were accorded 0% weightage.
- Eight (8) offers and indicative prices were heard, of which seven (7) were taken into consideration as T2 trades, receiving 100% weightage.
Factors influencing concentrate prices
- NMDC hikes iron ore prices for Aug’25: India’s largest merchant iron ore mining company, NMDC, increased list prices of iron ore CLO (calibrated lump ore) and fines, BigMint learnt from sources. The miner has fixed prices of DR CLO (10-40 mm, Fe 67%) at INR 6,850/tonne (t) ($78/t) and of iron ore fines (-10 mm, Fe 64%) at INR 5,250/t ($60/t), an increase of INR 450/t ($5/t) and 400/t ($4.5/t), respectively. Prices are on FOR basis from the miner’s Bacheli complex and include royalty, DMF, and NMET.
- Odisha iron ore fines index stable w-o-w: BigMint’s Odisha iron ore fines (Fe 62%) index remained stable w-o-w at INR 5,350/tonne (t) ($61/t) ex-mines on 2 August. This week, trading activity was moderate as available volume was low. Some miners sold iron ore at revised offers, while a few others waited for next week to revise offers. Persistent monsoon rainfall has significantly hampered both production and dispatch operations of miners, leading to tight supply conditions in the spot market.
- Pellet prices remain firm in Raipur: BigMint’s bi-weekly domestic pellet (Fe63%) index for Raipur, inched up by INR 50/t ($0.5/t) to INR 10,100/t ($115/t) DAP on 5 August compared to the previous assessment on 1 August supported by moderate buying activity and seasonal demand, even as monsoon continues to impact market activity. Market participants highlighted that sponge iron prices showed positive signals yesterday and have remained rangebound throughout the past week, which helped revive raw material buying interest.
Outlook
Iron ore concentrate offers are expected to remain stable, supported by positive sentiments in the iron ore and pellet markets.
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