Page 2 - Iron Ore Prices

NMDC shines on rising iron ore prices, shares continue to gain on bourses

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

Rupee, firm demand to keep domestic iron ore prices elevated in near-term

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

Steel makers uneasy over iron ore price surge as steel prices soften

Dillip SatapathyThe domestic prices of iron ore, excluding the rates prevailing in Karnatak, have jumped by 17 per cent for fines and 11 per cent for lumps upto July in the current fiscal in contrast to 5 per cent slide in steel (TMT bar) prices in the same period. With the ongoing monsoon impacting construction activities and global trade war threatening to create a glut in the domestic market, the steel industry is keeping its fingers crossed on further increase in the domestic iron ore prices which may impact their margins.The iron ore prices have rebounded after seeing a minor correction in April and May this year. In July'18, price of 62.5% Fe fines has gone up by Rs.250 from Rs.2100 to Rs.2400 per tonne which has an individual impact of Rs 400 per tonne on steel making. Iron ore lump prices went up from Rs.4925 to Rs.5175 per tonne in the month. On y-o-y basis, the iron ore fines rate has surged by 113 per cent (from Rs.1125 to Rs.2400/tonne) and the lump price has increased by .

NMDC increases iron ore price by Rs 150 a tonne for non-Karnataka mines

NMDC produced 35.6 mt in 2017-18

NMDC under pressure to cut iron ore prices for April

According to trade sources, the difference in ore prices between private miners and NMDC is currently Rs 850 a tonne

Pressure to ease on iron ore prices; mining firms to resume operations

The Supreme Court order allowing some large iron ore mines in Odisha to restart is likely to soothe iron ore prices.These mines had been ordered closed for defaulting in payment of compensation for overproduction. As a result, ore prices had risen sharply in recent months. Seven mines had shut down, some large, since the beginning of this year. Ore prices have risen about 60 per cent between October 2017 and now, worrying user industries, mostly steel plants.The closure, if not reversed, had been expected to knock off at least a fifth of the 102 million tonnes produced in Odisha during 2016-17. Around 25 mt of capacity is estimated to have been restored."With all these capacities coming back to operation, iron ore prices would see some correction in the near future," says a senior official of a large mining company. There are already signs of softening of prices, the rate coming down by about Rs 100 per tonne, he added.However, the price drop might not be so significant. The mining ...

Iron ore prices on fire as Odisha miners, NMDC hike prices

The closure of several large iron ore mines in Odisha for non-payment of the penalty imposed for excess mining over the past decade has put ore prices on fire. The uncertainty on availability has encouraged another big supplier, central government-owned NMDC, to raise its prices sharply.Between October 2017 and now, merchant miners in Odisha have raised the iron ore lump price by 49 per cent and of fines by 59 per cent. In this period, NMDC increased the price by 35 per cent for lumps and eight per cent for fines. With Odisha and NMDC together accounting for 45 per cent of iron ore supply to the domestic steel industry, this has put the latter under stress.The pace of increase in ore prices within the country is more than double the rate of swing in the commodity in the international sphere, making it clear that the hike is more due to local factors than import demand from China.The main factor is uncertainty over production in Odisha, where 55 per cent of the country's total iron ..

After NMDC, Odisha miners follow suit and hike iron ore prices

Key merchant iron ore producers in Odisha like Rungta Mines and KJS Ahluwalia have gone for sharp price increases

Pricing pressures likely due to increased iron ore supply: NMDC

BS ReporterHyderabad, 22 September: Public sector iron ore miner NMDC Limited sees a likely pressure on iron ore demand and prices in the domestic market due to international as well as local factors despite better prospects expected for steel industry growth.Addressing the annual general meeting (AGM) on Friday NMDC's newly appointed chairman cum managing director N Baijendra Kumar said the expectation of stagnation in Chinese steel production, increase in sea-born iron ore supplies and competition from scrap as a feed stock are some of the factors that would have a likely impact on the company's business in future.However, during the current year the company expects to achieve a minimum 20 percent growth in turnover over Rs 8,830 crore registered in the year ended March, 2016, according to Kumar. NMDC is planning to achieve a total volume in sales of over 37 million tonne this year from 35.6 million tonnes in the previous fiscal.The higher iron ore prices in 2014-15 was a result of .

NMDC lowers iron ore prices by 8-9% amid supply glut, demand slump

NMDC, the central government-owned mining entity Ltd, cut its iron ore prices by eight to nine per cent with immediate effect, due to excess supply and a slump in demand from Indian steel producers.The price of ore lumps is now down 8.2 per cent to Rs 2,225 a tonne and of ore fines by 9.15 per cent to Rs 1,985 a tonne. With the monsoon having spread, steel demand is going to remain subdued for the next three months because of lack of work on construction and infrastructure projects. Another reason for the price cut is oversupply of ore, following weak export viability and independent steel mills participating directly in iron ore mine auctions."NMDC's largest consumers are JSW Steel and Essar Steel in both Karnataka and Chhattisgarh. The iron ore price cut would benefit these mills proportionately. Since Tata Steel and Steel Authority of India have their own captive mines, with adequate capacity to support their production, they are unlikely to get any benefit," said Goutam ...

Falling iron ore prices a boost for steel producers

Global iron ore prices have been on a continuous decline highs of $95 a tonne in February this year to about $56 now, primarily due to slowdown in Chinese demand. Analysts at IIFL highlight that iron ore inventory levels at Chinese ports have risen by 40 per cent over last one year and 15 per cent year-to-date in 2017. The Chinese government had directed steel producers to decrease the metal's output in a bid to reduce pollution. Thus, while iron ore imports were 8.5 per cent higher during January-April, steel production was comparatively much lower at 4.8 per cent.All this has led to iron ore prices tumbling, which analysts at IIFL estimate to hover between $50-65 in the near term. Prices, however, could get some support if some of the iron ore production is cut. The decline in iron ore prices has not been good news for India's largest iron ore producer NMDC, which has also seen its stock price correct by almost 32 per cent from highs of Rs 152.50 in March to Rs 104 now. The limited .

Glut, gamblers' selling bring iron ore prices to lowest in a year in China

This trend is in contrast to the steelmaking commodity's stunning recovery in 2016