Iron Ore Prices

State-owned NMDC on Tuesday said it has hiked price of iron ore lumps by Rs 100 to Rs 4,500 per tonne with immediate effect. The country's largest iron ore miner has also increased rate of iron ore fines by Rs 200 to Rs 4,110/tonne, NMDC said in a regulatory filing. The prices are effective from Tuesday and exclude royalty, district mineral fund (DMF), National Mineral Exploration Trust (DMET), cess, forest permit fee and other taxes, the company said. Lump ore or high-grade iron ore contains 65.53 per cent Fe (iron), while fines are inferior grade ore with 64 per cent and less Fe content. In the last price revision announced on February 2, NMDC fixed the rate of the lump at Rs 4,400 per tonne and that of fines at Rs 3,910 a tonne with immediate effect. Iron ore is one of the key raw materials used in manufacturing of steel, and any movement in its prices has a direct impact on rates of steel, an alloy widely used in segments such as construction, infrastructure, automobile and .

Withdrawal of export duty may not increase volumes will boost sentiment, he says

Investment would be voa NMDC's Perth-based arm, Legacy Iron Ore, which is already prospecting for iron ore, gold and base metals there

State-owned mining giant NMDC has left the prices of lump ore and fines unchanged for the third time in a row. In a regulatory filing on Monday, NMDC said it has fixed the prices of lump ore at Rs 4,100 per tonne and that of fines at Rs 2,910 a tonne with effect from October 8, 2022. Iron ore is one of the key raw materials used in the manufacturing of steel. Any movement in the prices of the mineral has a direct impact on the rates of steel, which has been a matter of concern for user industries for the past few months. The company had on August 11 fixed the prices of lump ore and fines at Rs 4,100/tonne and Rs 2,910 per tonne, respectively. The prices were unchanged at its next announcement on September 8. Research firm SteelMint said, "This is a rollover as compared to the last month. Iron ore prices and sales have been under pressure after government had imposed 15 per cent export tax. The Indian iron ore production has dropped by around 20 per cent since duty." The rates excl

Market watchers are monitoring the government's response as the daily virus caseload in Shanghai grows, topping 50 for the fourth straight day

Consumption of iron ore has been hit by China's slumping property market and the country's inability to put the coronavirus behind it.

In a Q&A, the CEO of the firm calls for the launch of the National Mineral Index for Steel, which he says has been delayed

This is in connection to rising prices of raw materials such as steel, iron ore, aluminum, copper, plastics and paper.

Since Feb 2020, when Covid-19 was at its peak in China, prices of international iron ore skyrocketed by over 75% to a seven-year high of over $150 a tonne

Shortage of iron ore, spike in input costs are the major impediments

The domestic secondary steel industry contributes nearly 55 per cent to the total production of the alloy in the country

An unexpected surge in Chinese demand has sent global iron ore prices to a six-and-a-half-year high but export restrictions prevent Indian companies from taking advantage

Supply in the state is higher compared to demand amidst production restrictions and the ban on exporting ore out of the state imposed by the Supreme Court

NMDC's action is expected to encourage buyers to pick up larger quantities of the mineral in the near future

The hike in iron ore prices in the aftermath of auctions will hinge on the auction premiums

NMDC to soon sign an MoU with Andhra govt for ore linkage; steel minister Pradhan hints at huge petroleum investments in state, say players want to park as much as Rs 2 trn in the east coast

Iron ore's fortunes -- and those of the top miners in Australia and Brazil -- largely turn on the strength and trajectory of demand in China, which buys about 70% of seaborne cargoes

Prices of finished steel products tumble 10-25% since January

A favourable supply scenario for the steel-making raw material is expected to drive the company's earnings

The price outlook in the domestic market is the antithesis of global forecasts