National Mineral Development Corporation (NMDC), India's largest state owned miner of Iron ore, with an annual production capacity of 30 MnT (million tons), has lowered Iron ore prices (both lumps and fines) for the month of July.
NMDC's July Iron ore prices:
6-40 mm & Fe 65 Kirandul lumps Rs 4,400/MT, drop of Rs 200/MT
10-150 mm & Fe 64 Bacheli ROM Rs 3,830/MT, down by Rs 170/MT
Fe 64 Iron ore fines Rs 2,510/MT, drop of Rs 100/MT
10-140 mm & Fe 67 DRO-CLO Rs 5,060/MT, down by Rs 230/MT
(Basic prices, excluding royalty and taxes)
In a board meeting held today, the company has taken the above decision looking at two important factors i.e. lower prices of Iron ore lumps and free fall in Iron Pellet offers at Odisha in the previous month.
NMDC's total Iron ore production in Q1 (April-June 2013) from mines in Chhattisgarh is down by 1.69% Y-o-Y to 4.66 MnT (4.74 MnT last year).
Though, sales were doing good, its Iron ore production and dispatches were hampered due to heavy rainfall in Bailadila region (Chhattisgarh) and issues with the loading equipment.
Whereas, from Karnataka mines, it went up by 4.83% Y-o-Y to 2.07 MnT.
The miners total Q1 Iron ore production from Chhattisgarh and Karnataka mines this fiscal, has increased to 6.83 MnT (6.81 MnT in Q1FY 13) and sales improved by 5.83% Y-o-Y to 7.26 MnT (6.86 MnT earlier).
For more details, contact
Seema Goenka
(seema@steelmint.com)
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