National Mineral Development Corporation (NMDC) – India’s largest iron ore producer has rolled over iron ore prices for Sept’16 deliveries. NMDC (C.G.) iron ore prices have remained at the same level since Jul’16.
NMDC’s iron ore production was recorded at 2.1 MnT in Aug’16. NMDC’s iron ore production in Aug’16 was higher compared to previous year, as miner’s production was recorded at 2.09 MnT in Aug’15. Iron ore sales of NMDC was recorded at 2.7 MnT in Aug’16.
In the month of Aug’16, Mangalore based pellet maker – KIOCL resumed iron ore purchases from NMDC (C.G.), after a long gap of around 20 months and procured 9 rakes. Also, Gallant Metal, the west coast based steel maker, participated in the NMDC’s e-auction and booked around 12 rakes.
JSW Steel procured 48 rakes of iron ore from NMDC (C.G.) in Aug’16 against 65 rakes in Jul’16. Vizag Steel sourced 84 rakes from NMDC (C.G.) in Aug’16 compared to 102 rakes in Jul’16.
NMDC iron ore prices for Sept’16
|
Size |
Grade (Fe %) | Prices |
M-o-M |
| 10-40 mm, DR CLO | 67 | 1,960 | = |
| Baila lump , 6-40 mm | 65 | 1,700 | = |
| ROM, 10-150 mm | 65 | 1,530 | = |
| Blue Dust/Fines | 64 | 1,460 | = |
Prices in INR/MT excluding DMF@30% of royalty and NMET
Source: SteelMint Research
NMDC’s iron ore exports up in Aug’16 – NMDC exported 0.22 MnT iron ore to Japan in Aug’16. NMDC’s iron ore exports gained 57% as the miner exported 0.14 MnT in Jul’16.
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