NMDC, India's largest state owned miner of Iron ore, with an annual production capacity of 30 MnT (million tons) has decided to hold its Iron ore prices for the month of May, at levels similar to that in April.
NMDC's May Iron ore prices:
6-40 mm Kirandul lumps Fe% 65 Rs 4,600/MT
And, 10-150 mm Bacheli ROM Fe% 64 Rs 4,000/MT
Iron ore fines Fe% 64 Rs 2,610/MT
(Basic prices, excluding royalty and taxes).
Only, 10-140 mm DRO-CLO Fe% 67 will be made available at prices lower by Rs 280/MT.
It is being quoted at Rs 5,290/MT for May, which was being offered at Rs 5,570/MT in April.
A total of 2.4 MnT of iron ore was produced by NMDC in the month of April, out of which 2.3 MnT was sold out.
Streets were quiet hopeful that lumps would be cheaper for May, looking at the falling prices of sponge iron and overall steel market, which is not performing well at the moment.
Factors such as improved sales of iron ore by NMDC in April and anticipations of the same has accounted for the above decision.
Fines prices had been constant for March and April. Whereas, in April, offers for Kirandul lumps came down by Rs 350/MT (7.1%) to Rs 4,600/MT and Bacheli ROM at Rs 4,000/MT, down by Rs 260/MT (6.1%).
In March, lumps prices had dropped by Rs 110/MT (2.2%).
Leave a Reply