NMDC, India’s largest miner with 30 MnT pa production, held Iron ore prices unchanged for July, 2014.
NMDC Iron Ore Prices for July, 2014
|
Material Type |
Grade (Fe) |
Size (mm) |
Prices (INR/MT) |
|
DR CLO |
67 |
10-40 |
5,390 |
|
Baila Lumps |
65 |
6-40 |
4,600 |
|
Baila ROM |
65 |
10-150 |
4,030 |
|
Fines |
64 |
0-10 |
3,160 |
Royalty, bonus/penalty and other taxes extra
Source: SteelMint Research
NMDC Iron Ore Production & Sales
NMDC sold 2.85 MnT Iron ore in June, 2014. Whereas, production stood at 2.90 MnT. In Q1 FY14, NMDC had produced 7.84 MnT Iron ore and sales stood at 8.5 MnT. The miner has an installed capacity of 34 MnT pa.
|
Month |
Production |
Sales |
|
Jun’14 |
2.90 |
2.85 |
|
May’14 |
2.50 |
2.68 |
|
Apr’14 |
2.44 |
2.97 |
Qty in MnT
Source: SteelMint Research
NMDC has maintained Iron ore prices owing to stability in Odisha Iron ore prices and decent demand from domestic buyers.
Rungta Mines & Essel Mining have maintained prices for the first half of July, 2014. Despite Iron ore shortfall, prices remain constant because of stable Sponge iron prices, sufficient availability of Pellets in domestic market and imports of Iron ore.
Most of the Odisha based miners aren’t offering material presently as either they are overbooked or are waiting for clarity on 50:50 sales rule.
NMDC supplied 336 Iron ore rakes in Jun’14, decrease by 4.3% in comparison with May, 2014. 85 rakes were sold to Chhattisgarh based Sponge iron manufacturers alone, which is higher by 35% as compared to May 2014.
In Karnataka e-auctions, NMDC sold 0.82 MnT Iron ore. Iron ore fines bid prices for Fe 60% was at INR 2,555/MT in Jun’14, whereas Iron ore lumps bid prices for Fe 62% stood at INR 3,992/MT (grade & bid prices (basic) are weighted average).
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