National Mineral Development Corporation (NMDC) has raised iron ore base prices in Karnataka e-auctions to be held in Feb’17 in line with its price hike in Chhattisgarh mines.
Iron ore base prices of NMDC Donimalai mines moved up by about INR 52-115/MT M-o-M in Feb’17. Fines prices have gone up by INR 55-115/MT and that of lump have increased by INR 52-109/MT. High grade iron ore have witnessed higher price surge against that of low grade.
Base prices of fines (Fe 60.2%) moved up to INR 2,165/MT for Feb’17. In Jan’17 e-auctions, the same material was base priced at INR 2,083/MT. On similar lines, base price of low grade fines (Fe 58%) is presently at INR 1,910/MT which was observed at INR 1,839/MT in Jan’17 e-auctions.
|
Grade (Fe %) |
NMDC Donimalai E-auction Iron Ore Base Prices for Feb’17 in in INR/MT | |||
| Fines | M-o-M | Lump |
M-o-M |
|
| 67 | 2,952 | +115 | 3,018 | +109 |
| 66 | 2,837 | +111 | 2,907 | +105 |
| 65 | 2,721 | +106 | 2,796 | +100 |
| 64 | 2,605 | +101 | 2,685 | +96 |
| 58 | 1,910 | +71 | 2,021 | +73 |
| 57 | 1,794 | +66 | 1,910 | +69 |
Base prices mentioned are basic
Source: SteelMint Research
On the other side, base prices of lump (Fe 62.2%) has moved up from INR 2,397/MT in Jan’17 auctions to INR 2,486/MT in Feb’17 e-auctions.
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