Rungta Mines cut Iron ore prices by upto 11% wef 7 Feb’15.
Rungta Mines, India’s one of the largest merchant and private Iron ore producer, has cut prices to an extent of INR 500/MT (USD 8/MT) for February. This is the 4th time, miner has cut prices since Dec’14.
The miner, which generally review prices fortnightly, reduced lump prices by INR 500/MT and high grade fines prices by INR 300/MT and low grade fines by INR 200/MT wef 7 Feb’15.
Rungta Mines (Odisha) Monthly Iron Ore Prices
| Size (mm) | Grade (Fe%) | Prices | |||
| Feb’15 | Jan’15 | Dec’14 | Nov’14 | ||
| 5-18 | 65 | 5,850 | 6,350 | 7,300 | 7,700 |
| 5-18 | 63 | 5,550 | 6,050 | 7,000 | 7,400 |
| 10-30 | 65 | 5,200 | 5,700 | 6,650 | 7,050 |
| 10-30 | 63 | 4,800 | 5,300 | 6,250 | 6,650 |
| Blue Dust/Fines | 63 | 2,400 | 2,700 | 3,600 | 3,900 |
Prices in INR/MT
Prices are on FoR siding basis; including royalty
Source: SteelMint Research
NMDC cut Prices by upto 11% for February
India’s state owned and biggest Iron ore producer, has reduced prices by upto 11 % for February. The public sector miner, which fixes prices at the beginning of every month, cut prices of lump ore to INR 3,750/MT (USD 61/MT) from INR 4,200/MT and Iron ore fines to INR 2,760/MT from INR 3,060/MT.
NMDC Iron Ore Prices
| Size (mm) | Grade (Fe%) | Prices | |||
| Feb’15 | Jan’15 | Dec’14 | Nov’14 | ||
| 6-40 (Lumps) | 65 | 3,750 | 4,200 | 4,200 | 4,400 |
| 10-150 (ROM) | 65 | 3,300 | 3,690 | 3,690 | 3,860 |
| Blue Dust/Fines | 64 | 2,760 | 3,060 | 3,060 | 3,160 |
| 10-40, DR CLO (Lumps) | 67 | 4,540 | 4,990 | 4,990 | 5,190 |
Prices in INR/MT; 15% royalty extra
Prices are on FoR Siding basis
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