National Mineral Development Corporation (NMDC) has reduced the iron ore base prices for Karnataka e-auctions to be held in Jul’17. It is to be noted that the miner has kept iron ore floor prices unchanged since Mar’17.
The Miner has reduced the prices between INR 145/MT to INR 225/MT for the material. It is to be noted that NMDC has reduced the iron ore prices in Chhattisgarh as well.
For Jul’17 base prices for NMDC Donimalai fines (Fe 60.2%) remains at INR 2,076/MT and lump (Fe 62.5%) – INR 2,427/MT.
|
Grade (Fe %) |
NMDC Donimalai E-auction Iron Ore Base Prices for Jul’17 in in INR/MT |
|||
|
Fines |
M-o-M |
Lump |
M-o-M |
|
|
67 |
2,843 |
-225 |
2,911 |
-216 |
|
66 |
2,730 |
-217 |
2,803 |
-209 |
|
65 |
2,617 |
-210 |
2,696 |
-201 |
|
64 |
2,504 |
-202 |
2,588 |
-194 |
|
58 |
1,827 |
-153 |
1,941 |
-152 |
|
57 |
1,714 |
-145 |
1,833 |
-145 |
Base prices mentioned are basic
Source: SteelMint Research
NMDC produced 12 MnT iron ore from its Karnataka based mines in FY17. The miner accounts for nearly 45% share in state’s iron ore production. It operates two mines in Karnataka state namely Donimalai and Kumaraswamy.
NMDC accounted for 46% share in total allotted quantity via e-auctions in FY17. Notably the miner has kept prices unchanged for Jun’17 for its Karnataka and Chhattisgarh based mines as well.
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