India’s largest iron ore producer – National Mineral Development Corporation has kept iron ore prices unchanged for Apr’17 deliveries. Last month the miner has raised iron ore prices up to INR 100/MT M-o-M for Mar’17.
C.G. based units resume iron ore procurement significantly from NMDC Bailadila mines – Chhattisgarh based sponge units have sharply raised iron ore procurement from NMDC Bailadila mines in Mar’17 compared to that in Feb’17. They sourced 67 rakes in Mar’17 compared to 34 rakes in Feb’17.
It is to be noted that sponge prices increased sharply in Mar’17 amid higher raw material cost and strong demand. Monthly average C-DRI prices in Raipur gained about INR 2,000/MT M-o-M in Mar’17.
Odisha based merchant miners continue to hold iron ore offers – Presently, Odisha based merchant miners are also maintaining same offers .Odisha based merchant miners had raised iron ore lump prices by INR 300-400/MT and fines prices by INR 150/MT in mid of Mar’17 amid sharp hike in sponge prices.
On the other side, iron ore prices in global market remained volatile last month. Towards the end of Mar’17, Fe 62% fines index dropped and touched two-months low at USD 81/MT, CFR China.
NMDC (C.G.) iron ore prices for Apr’17
|
Size |
Grade (Fe %) | Prices |
Change |
| 10-40 mm, DR CLO | 67 | 2,790 | = |
| Baila lump , 6-40 mm | 65 | 2,425 | = |
| ROM, 10-150 mm | 65 | 2,195 | = |
| Blue Dust/Fines | 64 | 2,185 | = |
F.O.R prices in INR/MT
Royalty, DMF, NMET & other taxes extra
Source: SteelMint Research
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