Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Indian state-owned iron ore miner, National Mineral Development Corporation (NMDC) has hiked iron ore prices from Thursday onwards. Lump ore (65pc,6-40mm) prices have risen by Rs700/mt ($9.53/mt) to Rs7,650/mt while fines (64pc, 10mm) prices increased by Rs1,500/mt to Rs6,560/mt.

Global iron ore prices are already on an uptrend. Merchant mines in the Indian state of Odisha have also increased its prices

The current hike has impacted the domestic sponge iron prices which were already on a rise. The bi-weekly Davis Index for Sponge iron rose by Rs1,450/mt to Rs29,950/mt del Durgapur mills over the week and pellet sponge iron prices in Raipur also rose with the bi-weekly Davis Index for sponge iron increasing by Rs2,525/mt to Rs30,775/mt del Raipur mills in the same period. 



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