India: NMDC Rolls Over Iron Ore Prices for August

NMDC Ltd- India's biggest iron ore producer, has today announced a roll over in its iron ore prices for August deliveries, as per market sources report to SteelMint.

Prices of Baila lump ore is at INR 3,100 per wet metric tonne (wmt), Baila iron ore fines are at INR 2,860 per wet metric tonne and DR CLO is at INR 3,600 per wet metric tonne. FoR prices mentioned are excluding Royalty, DMF, NMET and other taxes.

NMDC (Chhattisgarh) supplied total of 222 rakes (0.85 MnT) of iron ore in the month of Jul’19, down 28% against 310 rakes (1.19 MnT) a month before in Jun’19, according to railway movement data maintained with SteelMint. NMDC supplied 18 rakes (0.07 MnT) to state-based units in Jul’19, down 51% against 37 rakes (0.14 MnT) a month before.

Owing to the seasonal effect of monsoons, production and dispatches from the mines have come down.

On the other hand, iron ore lump prices in Odisha have moved down in a months time. SteelMint's assessment for 5-18 mm (Fe 63%) stands at INR 3,700-3,900/MT, ex-mines including Royalty, DMF & NMET down by around INR 300/MT. However fines (Fe 63%) price assessment stands majorly stable at INR 2,000-2,100/MT on ex-mines basis.