National Mineral Development Corporation (NMDC) has increased the iron ore base prices for Karnataka e-auctions to be held in Sep’17. The company has increased the prices between INR 120/MT to INR 200/MT.
It is to be noted the miner had kept the iron ore base prices unchanged for the material last month.
The company has increased the prices between by INR 175/MT, DR CLO by INR 240/MT and ROM by INR 185/MT for Sep’17 deliveries in Chhattisgarh as well.
For Sep’17 base prices for NMDC Donimalai fines (Fe 60.2%) has been increased to INR 2,221/MT and lump (Fe 62.2%) – INR 2,550/MT.
| Grade (Fe %) | NMDC Donimalai E-auction Iron Ore Base Prices for Sept’17 in in INR/MT | |||
| Fines | M-o-M | Lump | M-o-M | |
| 67 | 3,043 | +200 | 3,102 | +191 |
| 66 | 2,922 | +192 | 2,987 | +184 |
| 65 | 2,801 | +184 | 2,872 | +176 |
| 64 | 2,680 | +176 | 2,757 | +169 |
| 58 | 1,955 | +128 | 2,068 | +127 |
| 57 | 1,834 | +120 | 1,953 | +120 |
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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