NMDC has reduced iron ore lump prices by INR 100-400/MT, ROM by INR 80/MT and kept fines prices unchanged for Sept’15 deliveries.
NMDC (National Mineral Development Corporation), India’s largest iron ore producer, has reduced iron ore lump & ROM prices, while keeping fines prices untouched. Baila lump (6-40 mm) prices have been reduced by INR 100/MT, DR-CLO (10-40 mm) by INR 400/MT, ROM (10-150 mm) by INR 80/MT. Fines prices remain unchanged at INR 1,660/MT.
Recently, Odisha based merchant miner Rungta Mines cut iron ore prices. It seems that other miners might also reduce iron ore prices this week. Looking at all these reasons, NMDC has also reduced its prices for Sept’15 deliveries.
NMDC Iron Ore Prices from April’15-Sept’15
|
Month |
10-150 mm | 10-40 mm, DR CLO | 6-40 mm | Blue Dust/Fines |
| (Fe 65%) | (Fe 67%) | (Fe 65%) |
(Fe 64%) |
|
| Sept’15 | 2,510 | 3,440 | 2,850 | 1,660 |
| Aug’15 | 2,590 | 3,840 | 2,950 | 1,660 |
| July’15 | 2,590 | 3,840 | 2,950 | 1,660 |
| June’15 | 2,690 | 3,840 | 3,050 | 1,960 |
| May’15 | 2,690 | 3,840 | 3,050 | 1,960 |
| April’15* | 2,690 | 3,840 | 3,050 | 1,960 |
| April’15 | 2,860 | 4,040 | 3,250 | 2,460 |
Prices in INR/MT
*Prices effective from 18-30 Apr’15
Royalty@15% and other taxes extra
Source: SteelMint
NMDC iron ore production declined by 13% in Aug’15
NMDC iron ore production fell by 13% M-o-M in Aug’15 and stood at 2.09 MnT. Sales fell by 28% M-o-M and stood at 1.87 MnT last month.
NMDC’s Iron Ore Production & Sales
|
|
Production |
|
| April’15 | 1.84 | 2.30 |
| May’15 | 2.30 | 2.24 |
| June’15 | 1.80 | 2.12 |
| July’15 | 2.40 | 2.60 |
| Aug’15 | 2.09 | 1.87 |
| Total | 10.43 | 11.13 |
Qty in MnT (million tonnes)
Provisional data
Source: SteelMint
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