NMDC, a state controlled Iron ore producer with 32 MnT pa installed capacity, has determined Iron ore prices for the month of April 2014 at levels similar to March 2014.
NMDC Iron Ore Prices for April 2014
Iron Ore Lumps
6-40 mm & Fe 65 Kirandul Lumps INR 4,500/MT
10-150 mm & Fe 64 Bacheli ROM INR 3,950/MT
10-40 mm & Fe 67 DR CLO INR 5,190/MT
Iron Ore Fines
Fe 64 Fines INR 2,910/MT
Basic prices, excluding royalty and taxes
In contrast to street expectations that the country’s largest miner may lower prices because Odisha based miners slashed prices by INR 200-500/MT but, NMDC has maintained them.
Sponge iron making cost is about INR 800/MT less from Odisha Iron ore in comparison to NMDC’s material. This may impact sales volume of the latter this month.
The company’s Iron ore sale in March 2014 stood at 3.1 MnT i.e. 2.15 MnT from Bailadila and 0.95 MnT from Karnataka owing to good demand from long term customers. NMDC’s production was highest last month during FY14, at 3.7 MnT i.e. 2.8 MnT from Bailadila and 0.9 MnT from Karnataka.
|
NMDC Iron Ore Production (up 11% Y-o-Y) & Sales (up 16.1% Y-o-Y) in FY14 |
||
|
Quarter |
Production |
Sales |
|
Q1 |
6.9 |
7.3 |
|
Q2 |
5.9 |
6.5 |
|
Q3 |
7.3 |
7.3 |
|
Q4 |
10 |
9.4 |
|
Total |
30.2 |
30.5 |
Qty in MnT
Source: SteelMint
|
Top 5 Buyers of NMDC Iron Ore Rakes in Q4 FY14 |
||||
|
Buyers |
Jan-14 |
Feb-14 |
Mar-14 |
Total |
|
JSW Vijaynagar |
76 |
99 |
135 |
310 |
|
JSW Salem |
50 |
98 |
35 |
183 |
|
KIOCL |
54 |
24 |
1 |
79 |
|
Essar Steel |
56 |
1 |
5 |
62 |
|
Welspun Steel |
16 |
18 |
18 |
52 |
|
Total |
252 |
240 |
194 |
686 |
Quantity per rake is 3,800 MT
Source: SteelMint Research
|
NMDC sold 1,045 Iron Ore Rakes in Q4 FY14 |
||||
|
State |
Jan-14 |
Feb-14 |
Mar-14 |
Total |
|
Chhattisgarh |
252 |
228 |
203 |
683 |
|
Karnataka |
118 |
115 |
129 |
362 |
|
Total |
370 |
343 |
332 |
1045 |
Quantity per rake is 3,800 MT
Source: SteelMint Research
|
NMDC sold 10.1 MnT Iron Ore (6 MnT Fines & 4.1 MnT Lumps) in Karnataka E-auction in FY14 |
||||||
|
|
Lumps |
Fines |
||||
|
Month |
W.A. Grade |
W.A. Bid Price |
Allotted Qty |
W.A. Grade |
W.A. Bid Price |
Allotted Qty |
|
Apr-13 |
63 |
4,053 |
232,000 |
61.2 |
2,600 |
420,000 |
|
May-13 |
62.5 |
3,950 |
332,000 |
60.8 |
2,255 |
524,000 |
|
Jun-13 |
63 |
3,990 |
308,000 |
60.5 |
2,525 |
496,000 |
|
Jul-13 |
62.3 |
3,826 |
136,000 |
60.5 |
2,037 |
556,000 |
|
Aug-13 |
62.6 |
3,655 |
324,000 |
60.7 |
2,170 |
524,000 |
|
Sep-13 |
63 |
3,627 |
476,000 |
60.5 |
2,450 |
476,000 |
|
Oct-13 |
63 |
3,795 |
376,000 |
60.5 |
2,287 |
468,000 |
|
Nov-13 |
63 |
3,756 |
312,000 |
60.5 |
2,901 |
476,000 |
|
Dec-13 |
62.2 |
3,810 |
364,000 |
60 |
3,448 |
460,000 |
|
Jan-14 |
62.4 |
3,800 |
524,000 |
60 |
2,610 |
460,000 |
|
Feb-14 |
62.8 |
|
400,000 |
60 |
2,390 |
672,000 |
|
Mar-14 |
62.2 |
|
304,000 |
60 |
2,370 |
412,000 |
|
Total |
|
|
4,088,000 |
|
|
5,944,000 |
Qty in MT
W.A: Weighted Average
Basic Prices excluding Royalty, VAT & FDT
Source: SteelMint Research
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