State owned miner NMDC keep its December iron ore prices unchanged on factors like rising steel and iron ore prices in global market.
Indian steel makers are disappointed as they were anticipating some concession looking at weak demand in domestic market.
“Steel industry is under performing at the moment. NMDC iron ore prices are still on higher side compared to Odisha. Although with Odisha government's notification on channelizing sale of 50% iron ore to state based industry will further impact supply to steel plants based out of Odisha.” said a large steel manufacturer based in Raipur (Chattisgarh).
Current landed cost of CLO (5-18mm) iron ore from NMDC is around 8,500- 8,600 per tonne at Raipur, incld royalty and taxes, where as equivalent grade material from Odisha costs us at around Rs 7,600-7,800/t, he further added.
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