With recent price cut by NMDC, India's state owned and largest iron ore producer, have made Indian steel makers to increase their raw material supply of iron ore from NMDC.
“Currently NMDC prices are lower than Odisha iron ore prices, many steel makers in Raipur, Chattisgarh have increased their purchases from NMDC Bailadila mines. NMDC also has an advantage of prompt supply as compared to Odisha.” said a official member with sponge iron manufacturers association.
Recently NMDC has cut iron ore lumps prices by 7% where as kept fines prices unchanged. Tentative landed cost of Fe 64/63 (CLO, 5-18mm) is around Rs 7,500/t (incld royalty) and landed cost from Odisha (CLO, 5-18mm) grade Fe 63/62 is around 7,500-8,000/t (Incld Royalty).
Leave a Reply