Iron Ore Prices

NMDC falls 2% on weak Q4 performance; Rs 7.25 dividend announced in FY24

The state-owned company's profit plunged 37.8 per cent to Rs 1,412.7 crore in the March quarter of financial year 2024 (Q4FY24), from Rs 2,271.5 crore in Q4FY23

Iron ore price recovery, steady demand positive for state owned NMDC

NMDC planned capex of Rs 1,750-1,800 crore for FY24 and Rs 2,000-2,100 crore for FY25

NMDC hikes iron ore lump rate by Rs 100/tonne; fines Rs 200 per tonne

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 .

Export opportunities limited right now: JSW Steel's Seshagiri Rao

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

NMDC in talks to invest in lithium exploration companies in Australia

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

NMDC leaves lump ore prices, fines unchanged for third straight time

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

Iron ore prices tumble towards $100 as demand from China declines

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

Iron ore price sinks and steel mills go dark on deepening China gloom

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

Country must fix iron ore pricing mechanism: Dilip Oommen of AM/NS India

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

MSME body seeks intervention of PM on rising raw material prices

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

Iron ore may stay elevated with robust Chinese demand, supply disruptions

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

Smaller steel producers trail top six players in scaling up production

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

As domestic iron ore price rises, steel industry demands ban on its export

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

Iron ore prices surge, but export curbs play spoilsport for Indian firms

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

Iron ore surplus rises sharply in Karnataka on falling demand, export ban

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

Experts cite dwindling steel demand for NMDC's sharp cut in iron ore prices

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

Iron ore prices are set to rise 30-40% after Odisha auctions: Crisil

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

Steel minister okays iron ore supply to Andhra for greenfield steel project

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 glory days seen to be numbered as China's demand rolls over

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

Beleaguered steel firms see ground for 35% cut in iron ore prices

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