National Mineral Development Corporation (NMDC) has decreased the iron ore base prices for Karnataka e-auctions to be held in Oct’17. The company has decreased the prices by about INR 100/MT on monthly basis.
It is to be noted that miner had increase the iron ore base prices by around INR 120 to 200/MT for the material last month.
The company has cut iron ore prices by 5% for Oct’17 deliveries in Chhattisgarh as well.
For Oct’17 base prices for NMDC Donimalai fines (Fe 60.2%) has been decreased to INR 2123/MT and lump (Fe 62.2%) – INR 2442/MT.
| Grade (Fe %) | NMDC Donimalai E Auction- Iron Ore Base Prices for Oct’17 in in INR/MT | |||
| Fines | M-o-M | Lump | M-o-M | |
| 65 | 2675 | -126 | 2750 | -122 |
| 64 | 2560 | -120 | 2640 | -117 |
| 62 | 2330 | -109 | 2420 | -107 |
| 58 | 1870 | -85 | 1980 | -88 |
| 57 | 1755 | -79 | 1870 | -83 |
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.
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