NMDC, had confirmed a reduction of iron ore prices for the month of April by 7% on different products. Prices have dropped by Rs 250-350/t on ROM and CLO respectively.
“Widening demand (weak) and supply of iron
ore lumps pushed us to offer lumps at Rs 260-350/MT less for April. Buying
interest in lumps was low in March and at current price levels, we expect sales
to go up in the beginning of FY 2013-14.Fines prices continue to stand at Rs 2,610/MT due to good demand.
Kirandul lumps is quoted lower by Rs 350/MT (7.1%) to Rs 4,600/MT and Bacheli
ROM at Rs 4,000/MT, down by (6.1%) Rs 260/MT.” said an official.
On the other hand steel makers in Chattisgarh was extremely happy on this move, CG sponge iron manufacturers association president Mr Anil Nachrani said, move is well accepted. This is certainly help us source more material from NMDC.
After reduction net landed cost of 5-18mm CLO from NMDC will cost around Rs 7,400/-7,600/t (Incld Royalty, Excluding VAT, Fe 64/63%) compared to Odisha's landed cost of Rs 7,500-7,800/t (Including Royalty, Fe 63%).
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