New Delhi
India’s largest and state owned Iron ore miner, NMDC has decided to keep its prices of lump ore and Iron ore fines unchanged for October, 2014. With this, miner has kept prices stable for four months in a row. Miner produced about 2.27 MnT of Iron ore in September and about 14.4 MnT in first 6-month (Apr’14-Sep’14) of this fiscal year.
Odisha miners have also kept their offers unaltered for October despite several mining restrictions, which has hampered Iron ore production. Industry experts highlighted that rising imports of Iron ore and other steel products has subdued the impact of mining restrictions in Odisha & Jharkhand.
NMDC Iron Ore Prices for Oct’14
| Material Type |
Grade (Fe) |
Size (mm) |
Prices (INR/MT) |
| DR CLO |
67 |
10-40 |
5,390 |
| Baila Lumps |
65 |
6-40 |
4,600 |
| Baila ROM |
65 |
10-150 |
4,030 |
| Fines |
64 |
0-10 |
3,160 |
Royalty @ 15%; bonus/penalty and other taxes extra
NMDC remains the largest Iron Ore Exporter from India during FY15 (Apr’14-Sep’14)
NMDC’s Iron ore exports in FY15 (Apr’14-Sep’14) stood at around 1.2 MnT, which contributes about 40% of India’s total Iron ore exports during the same period. Last shipment (in September) of 65% Fe fines was assessed at around USD 100/MT FOB Indian East Coast.
NMDC is the largest Iron ore producer in India with an annual capacity of about 32 MnT and sells over 90% of its produced material in the domestic market, apart from exporting to Japan & Korea under long-term supply agreements.
Its Iron ore production was over 27 MnT in FY13 and 30 MnT in FY14. While, it had exported about 1.6 MnT and 2.5 MnT in FY13 & FY14 respectively.
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