NMDC, a state controlled and India’s largest Iron ore miner with 32 MnT pa installed capacity, has increased Iron ore fines by INR 100/MT for February 2014.
Iron ore lumps prices remain constant at INR 4,500/MT (Fe 65 & 6-40 mm) and at INR 3,950/MT (Fe 65 & 10-150 mm). Higher grade lumps (Fe 67 & 10-40 mm) offers are quoted at INR 5,190/MT.
All prices are basic; excluding 10% royalty
In Oct 2013-Feb 2014, NMDC has increased Iron ore prices by INR 300/MT looking at improved production and sales.
Increase in buying volumes for fines from both long term customers and participants in e-auction has pushed up offers. Whereas, demand in lumps is stable.
The miners Iron ore production and sales improved in January 2014 in comparison to the previous month. NMDC sold 1 MnT Iron ore (0.5 MnT fines & lumps each) through e-auction in Karnataka last month.
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NMDC Iron Ore Production & Sales (in MnT) |
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Month |
Production |
Sales |
|
Jan-14 |
3 |
2.9 |
|
Nov-13 |
2.6 |
2.2 |
|
Dec-13 |
2.8 |
2.7 |
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