National Mineral Development Corporation (NMDC) has increased the iron ore base prices for Karnataka e-auctions to be held in Nov’17. The company has increased the prices by about INR 150/MT on monthly basis.
It is to be noted that miner had decreased iron ore base prices by around INR 100/MT for the material last month.
The company has rolled over iron ore prices for Nov’17 deliveries in Chhattisgarh while it has increased for Karnataka e-auctions.
For Nov’17 base prices for NMDC Donimalai fines (Fe 60.2%) has been increased to INR 2264, /MT and lump (Fe 62.2%) – INR 2,572/MT.
| Grade (Fe %) | NMDC Donimalai E Auction- Iron Ore Base Prices for Nov’17 in in INR/MT | |||
| Fines | M-o-M | Lump | M-o-M | |
| 65 | 2854 | +179 | 2922 | +172 |
| 64 | 2731 | +171 | 2805 | +165 |
| 62 | 2485 | +155 | 2572 | +152 |
| 58 | 1993 | +123 | 2104 | +124 |
| 57 | 1870 | +115 | 1987 | +117 |
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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