India’s largest iron ore producer – National Mineral Development Corporation has raised iron ore prices up to INR 100/MT M-o-M for March deliveries.
The miner has raised prices of Baila lump and fines prices by INR 100/MT, DR-CLO by INR 45/MT and ROM by INR 95/MT for Mar’17 deliveries.
Last month the miner has raised iron ore prices by INR 185/MT M-o-M.
Factors governing NMDC (Chhattisgarh) iron ore prices:
High global iron ore prices – Iron ore fines (Fe 62%) hit 30-month high in Feb’17. Iron ore fines (Fe 62%) index was assesed at USD 93/MT, CFR China yesterday, up by USD 11/MT M-o-M.
Odisha based merchant iron ore miners hiked prices – Major Odisha based merchant miners have recently (in past 3-4 days) have raised iron ore lump prices up to INR 300/MT. However fines prices continue to remain unaltered.
Sharp hike in sponge iron prices – Indian sponge iron prices moved up sharply in Feb’17. C-DRI prices in central India have strengthened by INR 800/MT W-o-W and up to INR 2,300/MT M-o-M.
NMDC (C.G.) iron ore prices w.e.f 01 Mar’17:
|
Size |
Grade (Fe %) | Prices | M-o-M | |
| INR/MT |
% |
|||
| 10-40 mm, DR CLO | 67 | 2,790 | +45 | +2% |
| Baila lump , 6-40 mm | 65 | 2,425 | +100 | +4% |
| ROM, 10-150 mm | 65 | 2,195 | +95 | +5% |
| Blue Dust/Fines | 64 | 2,185 | +100 | +5% |
F.O.R prices in INR/MT
Royalty, DMF, NMET & other taxes extra
Source: SteelMint Research
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