India’s largest iron ore producer – National Mineral Development Corporation (NMDC) has announced price cut of up to 5% for Oct’17 deliveries. Baila lump and fines prices have come down up by INR 100/MT, DR-CLO by INR 110/MT and ROM by INR 90/MT.
The miner had raised iron ore prices by INR 175-240/MT in Sept’17.
C.G. based units reduced iron ore procurement sharply in Sept’17 – As per rake movement data maintained with SteelMint, NMDC supplied 27 rakes to C.G. based units in Sept’17 compared to 42 rakes in Aug’17. However sourcing by outside state based units have moved up 24% M-o-M in Sept’17. West India (Gujarat) based steel plants participated in NMDC’s e-auction conducted on 14 Sept’17 in which bids for DR-CLO went up by around INR 540/MT.
Sponge iron prices in central India declined up to 6% in Sept’17 – Sponge iron prices in central India fell amid weak trade activities in Sept’17. Monthly average C-DRI (80 FeM) prices in Raipur fell INR 650/MT M-o-M to INR 18,100/MT (ex-works) in Sept’17. P-DRI prices in Raipur fell by 6% M-o-M in Sept’17.
Monthly average global iron ore fines index fell by USD 5/MT – The iron ore fines prices in China fell amid drop in futures and announced sintering cuts Monthly average spot iron ore fines (Fe 62%) prices were analyzed at USD 71/MT, CFR China in Sept’17 which were USD 76/MT, CFR China in Aug’17.
Odisha based miners had kept iron ore prices unchanged in Sept’17 after they had increased up to INR 600/MT in Aug’17.
NMDC (C.G.) iron ore prices for Oct’17
|
Size |
Grade (Fe %) | Prices | Change (in INR/MT) |
Change (in %) |
| 10-40 mm, DR CLO | 67 | 2,690 | -110 | -4% |
| Baila lump , 6-40 mm | 65 | 2,300 | -100 | -4% |
| ROM, 10-150 mm | 65 | 2,110 | -90 | -4% |
| Blue Dust/Fines | 64 | 2,060 | -100 | -5% |
F.O.R prices in INR/MT w.e.f 05 Oct’17
Royalty, DMF, NMET and other taxes extra
Source: SteelMint Research
Leave a Reply