National Mineral Development Corporation (NMDC) – India’s largest iron ore producer has kept iron ore prices unchanged for Nov’16 deliveries. Last month it had raised iron ore prices by INR 300-460/MT M-o-M.
Factors governing NMDC (Chhattisgarh) iron ore prices:
Sourcing of C.G. based plants remain stable in Oct – C.G. based sponge units sourced 65 rakes in Oct’16. However sourcing of outside state based units mainly Vizag Steel and JSW Steel increased by 31% and 27% respectively M-o-M.
Sponge iron prices plunge in Oct amid limited trades – After witnessing sharp hike till 1st week of Oct’16, sponge iron prices in central India witnessed a downtrend in rest part of the month and fell by INR 1,000-1,300/MT. Dull demand and limited trades kept sponge prices under pressure in Oct’16.
Odisha based miners maintain iron ore prices – Odisha based merchant miners have also kept their iron ore offers unchanged as of now and continue to hold their previous offers.
NMDC iron ore prices for Nov’16
|
Size |
Grade (Fe %) | Prices |
M-o-M (in INR/MT) |
| 10-40 mm, DR CLO | 67 | 2,420 | = |
| Baila lump , 6-40 mm | 65 | 2,100 | = |
| ROM, 10-150 mm | 65 | 1,890 | = |
| Blue Dust/Fines | 64 | 1,760 | = |
F.O.R prices in INR/MT w.e.f 03 Nov’16
Royalty, DMF, NMET & other taxes extra
Source: SteelMint Research
Iron ore exports from NMDC (Chhattisgarh) remain stable M-o-M – NMDC exported 0.21 MnT iron ore, majorly to Japan in Oct’16. In Sept’16, the miner had exported 0.22 MnT iron ore from its Chhattisgarh mines.
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