Iron Ore  

NMDC Cuts Iron Ore Prices Upto 12% for January

India's biggest iron ore producer, NMDC, has announced a price cut of about 10-12% in the price of iron ore for the month of Jan’19, SteelMint has heard from its market sources.

Market participants were expecting a price cut looking at aggressive price cuts done by Odisha miners.
Last month NMDC had slashed iron ore price between INR 450-785/MT for Dec’18 via two successive price cuts announced.

Odisha based major merchant miners have reduced iron ore prices drastically. Fines prices have come down by 34% while lump prices have come down by 25%. Key merchant miners in Odisha are looking at scaling up their iron ore production in order to utilize their remaining Environmental Clearance (EC) approved for the financial year 2019 (Apr 2018 – Mar 2019)

Serajuddin mine has cut its iron ore lump prices by INR 500/MT w.e.f 31st Dec’18. As per sources, the miner has cut prices of 5-18mm (Fe 63%) from INR 4,300/MT to INR 3,800/MT (ex-mines, including Royalty, DMF & NMET).Miner has cut prices for regular buyers.

News No: 3191
Date: 2019/01/08 - 02:14
News Source: SteelMint

NMDC  iron ore  Serajuddin mine  Environmental Clearance (EC) 


Leave a Comment:


Iron Ore Prices Seen Stagnant on Rising Supplies, Asia Demand to Support

New Delhi – Global iron ore prices are seen stagnating in the next few years on excessive supplies and slowing Chinese demand, yet a strong growth elsewhere in Asia is expected to keep prices supported and trade booming.

Canada: Iron Ore Exports Down 21% in Nov'18

Trade statistics released by Canada custom shows that the iron ore exports by the country recorded at 4.01 MnT in Nov'18. The exports depicted fall of 21% as compared to Oct'18 exports at 5.1 MnT. On yearly basis exports witnessed a fall of 4% as against 4.16 MnT in Nov'17.

Infograph: Brazil Iron Ore and Pellet Export in 2018 Vs 2017

World's second largest exporter of Iron ore - Brazil, increased its iron ore exports in CY'18 by 3% to 394 MnT as against 384 MnT in CY'17 for the 6th consecutive year in 2018.

Iran to Open New Steel Mill

A new steel ingot production unit will open in the city of Sirjan, Iran’s province of Kerman, in early February, an Iranian lawmaker said, adding that the opening ceremony will be attended by First Vice-President Es’haq Jahangiri.

Brazilian general with mining ties to solve industry-indigenous disputes

A retired Brazilian Army officer who recently advised Canadian miner Belo Sun (TSX: BSX) about its plans to mine gold in the Amazon, will head the country’s Indigenous Rights Agency (Funai) aiming at using his experience in the sector to deal with hundreds of impending clashes between miners and locals.

Indian Sponge Makers Prefers Iron ore Over Pellets

Amid significant fall in domestic Iron ore prices, the sponge manufacturers in Central, East & Southern India are shifting their interest towards Iron ore rather than pellets.
Upcoming Events
 Mines & Metals

Mine & Business Today

 Scrap & Recycling


Our partners