Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

State-owned National Mineral Development Corporation (NMDC) has reduced its iron ore lumps and fines prices by Rs50/mt.

After the cut, iron ore fines will be priced at Rs. 2,860/mt and lumps at Rs3,150/mt effective March 14. These prices are excluding royalty, DMF, NMET, cess, forest permit fee and other taxes.


After the reduction, pellet sponge iron price declined to Rs17,500/mt from Rs17,600-17,700/mt late last week. Sponge iron prices were also impacted as few plants in Raipur which had halted production resumed their operations.


Earlier, NMDC had increased prices for lumps by Rs400/mt and fines by Rs 350/mt on Jan 19.


The company has recorded iron ore production of 32.6mn mt in 2019, down by 1.5pc from the previous year. Of this, the output from Chhattisgarh mines was 24.8mn mt while the rest 7.78mn mt was from its Karnataka mines.

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