India Steel Market Watch
November 12: Iron ore miners kept prices remained unchanged in the last one week and will take any decision to tinker with prices in the next one week’s time, industry sources said.
Earlier, at the beginning of the month, NMDC had slashed lumps prices by Rs 80-100 per ton but raised fines prices by Rs 100 per ton.
NMDC has announced that lump ore prices have been fixed at Rs 2,400 WMT (wet metric ton) and fines at Rs 1,560 wmt respectively with effect from November 3, 2015. The above prices are excluding royalty, taxes, duties and levies.
NMDC has reported 15.09 million tons (mt) of iron ore production and logged sales volumes of 15.73 mt up to October 2015. The iron ore major stated that the company’s Chhattisgarh mines produced 8.59 mt and registered sales volumes of 8.89 mt while the Karnataka mines produced 6.5 mt and sold 6.83 mt up to October 2015.
Also, iron ore lumps offers were marginally lowered by Essel and Indrani by around Rs 200 per ton and Rs 100 per ton respectively. Fines prices, however, remained unchanged, sources said.
Goa, India's top iron ore exporting state, resumed production in August. The state has an annual limit of 20 million tons in the current fiscal. However, sources said e-auctions in Goa recorded lukewarm responses with sales hovering around 20-30% of the offered quantity.
Following are prevailing domestic iron ore prices:
|
|
|
Price (ex-mines) |
Price (ex-mines) |
W-O-W |
Company |
Size |
Grade |
12-Nov-15 |
05-Nov-15 |
|
NMDC |
6-20mm |
65 |
2400 |
2400 |
0 |
|
10-150mm |
64 |
2130 |
2130 |
0 |
|
Fines |
64 |
1560 |
1560 |
0 |
Rungta |
5-18mm |
65 |
NA |
NA |
NA |
|
5-18mm |
63 |
3000 |
3000 |
0 |
|
10-30mm |
65 |
NA |
NA |
NA |
|
10-30mm |
63 |
2900 |
2900 |
0 |
|
Blue Dust |
63 |
1800 |
1800 |
0 |
Essel |
5-18mm |
63 |
NA |
NA |
NA |
|
10-30mm |
63 |
2700 |
2700 |
0 |
|
Blue Dust |
63 |
1600 |
1600 |
0 |
Serajuddin |
5-18mm |
63 |
2600 |
2600 |
0 |
|
Blue Dust |
63 |
1600 |
1600 |
0 |
Indrani |
5-18mm |
63 |
2500 |
2500 |
0 |
|
Blue Dust |
63 |
1500 |
1500 |
0 |
KJS Ahluwalia |
5-18 mm |
63 |
2600 |
2600 |
0 |
|
Blue Dust |
63 |
1600 |
1600 |
0 |
Source: Traders