India: NMDC Cuts Iron Ore Price Upto 17% for May'20
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NMDC Ltd- India's biggest iron ore producer has sharply reduced iron ore prices today, as per credible market sources report to SteelMint. Prices of Baila fines and lump have been reduced by INR 400/MT and DR CLO by INR 470/MT. Revised prices have come into effect from today (09 May'20).
Prices of Baila lump ore are at INR 2,250 per wet metric tonne (wmt), Baila iron ore fines are at INR 1,960 and that of DR CLO is INR 2,610 per wet metric tonne. FoR prices mentioned are excluding Royalty, DMF, NMET, and other taxes.
NMDC (C.G.) has supplied a total of 163 rakes (0.63 MnT) of iron ore in the month of Apr'20, down 57% against 378 rakes (1.46 MnT) a month before in Mar'20, according to railway movement data maintained with SteelMint.
With steel mills holding sufficient iron ore inventories in hand and curtailed steel output due to the pandemic, iron ore/pellet procurement has come down. All major Indian mills including JSW Steel, Tata Steel, Vizag Steel, SAIL, etc had cut down operations last month.
Raipur pellet offers have come down by around INR 400/MT post-lock-down eased out. However, amid dull domestic demand, pellet makers are exploring export options.
NMDC Chhattisgarh iron ore prices
| Particulars | Apr'20 | May'20 | M-o-M (%) |
| DR CLO | 3080 | 2610 | -15 |
| ROM | 2500 | 2130 | -15 |
| Baila Lump | 2650 | 2250 | -15 |
| Baila Fines | 2360 | 1960 | -17 |
Prices are on FoR basis
Royalty, DMF and other taxes extra
