National Mineral Development Corporation (NMDC) has increased the iron ore base prices for Karnataka e-auctions to be held in Dec’17. The company has increased the prices by about INR 300/MT on monthly basis. Lump prices have moved up by around INR 300/MT and fines prices by about INR 200/MT.
For Dec’17 base prices for NMDC Donimalai fines (Fe 60.2%) has been increased to INR 2,432/MT and lump (Fe 62.2%) – INR 2,864/MT.
It is to be noted that miner had increase the iron ore base prices by around INR 100- 150/MT for the material last month.
The company has also announced price hike in iron ore prices for Dec’17 deliveries in Chhattisgarh.
| Grade (Fe %) | NMDC Donimalai E Auction- Iron Ore Base Prices for Dec’17 in in INR/MT | |||
| Fines | M-o-M | Lump | M-o-M | |
| 65 | 3064 | +210 | 3224 | +302 |
| 64 | 2932 | +201 | 3096 | +291 |
| 62 | 2668 | +183 | 2838 | +266 |
| 58 | 2140 | +147 | 2322 | +218 |
| 57 | 2008 | +138 | 2193 | +206 |
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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