NMDC, India’s largest miner with 30 MnT pa productions, has increased Iron ore lumps prices by INR 250-300/MT and fines prices by INR 250/MT for June 2014
NMDC Iron Ore prices for the Month of June, 2014
|
Material Type |
Grade (Fe) |
Size |
Prices (INR/MT) |
Change (M-o-M) |
|
DR CLO |
67 |
10-40 mm |
5,390 |
+300 |
|
Baila Lumps |
65 |
6-40 mm |
4,600 |
+300 |
|
Baila ROM |
65 |
10-150 mm |
4,030 |
+250 |
|
Fines |
64 |
0-10 mm |
3,160 |
+250 |
All prices are basic.
Royalty, Bonus/Penalty and other taxes extra.
Source: SteelMInt Research
NMDC Iron ore Production & Sales
|
Month |
Production |
Sales |
|
14-Apr |
2.4 |
3 |
|
14-May |
2.6 |
2.8 |
|
Qty in MnT |
||
|
Source: SteelMint Research |
||
As per market anticipations, NMDC has raised Iron ore prices owing to higher demand from Chhattisgarh based Steel/Sponge iron plants and long term customers. Shortfall of Iron ore in Odisha, after Supreme Court on 16 May,2014, ordered suspension of mining operations for 10 mines running under second deemed renewal, pushed up prices.
In addition, Rungta mines had raised Iron ore prices by INR 400-500/MT w.e.f. 20 May,2014. Only a few miners in Odisha are offering Iron ore. Delivery of the material is not immediate because of mismatch in demand (high) and supply (low).
NMDC supplied 354 Iron ore rakes from Chhattisgarh in May, 2014, increase by 15.5% in comparison with Apr, 2014. In Karnataka e-auctions, NMDC sold 0.8 MnT Iron ore. The Iron ore fines bid prices for Fe 60% was at INR 2,325/MT (basic) in May, 14 whereas Iron ore lumps bid prices for Fe 63% stood at INR 3,655/MT. Grade & bid prices are weighted average.
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