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India: NMDC lifts iron ore prices from Chhattisgarh mines by INR 100/t ($1/t)

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Fines/Lumps

BigMint Bureau

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10 Feb 2026, 10:30 IST

India: NMDC lifts iron ore prices from Chhattisgarh mines by INR 100/t ($1/t)

Odisha iron ore prices rise m-o-m

India steel mills lift offers for early Feb'26

India's largest merchant iron ore mining company, NMDC, announced its list prices of iron ore CLO (calibrated lump ore) and fines on 10 February 2026, BigMint learnt from sources. The miner has fixed prices of DR CLO (10-40 mm, Fe 67%) at INR 5,250/tonne (t) ($58/t) and of iron ore fines (-10 mm, Fe 64%) at INR 4,000/t ($44/t). Prices are on FOR basis from the miner's Bacheli complex and exclude royalty, DMF, and NMEDT. Prices of all grades were raised by INR 100/t.

Notably, in January 2026, NMDC has shifted its pricing structure from a tax-inclusive model to one that excludes royalty, DMF, and NMEDT charges.

Market overview

Odisha iron ore prices rise m-o-m: BigMint's Odisha iron ore fines index (Fe 62%) rose by INR 200/t m-o-m to INR 5,900/t in January 2026. Prices increased due to active trading by steelmakers, backed by strong offers from miners and higher auction bids. In January, OMC sold 2.04 mnt (91%) of fines, with the weighted average bids increasing INR 425/t m-o-m.

PELLEX rises on higher offers: The domestic pellet index, PELLEX, increased INR 275/t m-o-m in January to a monthly average of INR 9,775/t DAP Raipur. Pellet prices increased due to higher offers from local pellet producers, driven by rising iron ore fines costs and escalating downstream steel prices.

Chinese iron ore prices remain largely stable: Chinese imported iron ore prices (Fe 61%) remained largely stable m-o-m in January at $106/t CFR, supported by restocking activity ahead of the Lunar New Year in February and a rebound in crude steel production from Decembers lows. Trading activity was mainly concentrated in medium-grade fines due to mills' cost pressures. Elevated port stocks weighed on buying appetite, while positive expectations regarding macroeconomic policies intermittently offered support.

India steel mills lift offers for early Feb'26: Indian primary steelmakers increased rebar prices by up to INR 3,000/t ($33/t) for early-February 2026 dispatches over end-January levels, sources informed BigMint. Post-revision, list prices stood at INR 57,000-58,000/t ($630-641/t) on landed basis. Trade-level BF-rebar prices (distributor to dealer) rose by INR 600/t ($7/t) to INR 58,000/t ($641/t) exy-Mumbai as per BigMint's assessment on 3 February 2026. Leading Indian steelmakers have also increased list prices of hot-rolled coils (HRCs) and cold-rolled coils (CRCs) by INR 1,750-2,500/t ($19-28/t) for early February 2026 sales. List prices of HRCs (2.5-8 mm, IS2062, Gr E250 Br) ranged within INR 53,450-54,250/t ($593-601/t) ex-Mumbai. Moreover, CRCs (0.9 mm, IS513 CR1) were listed at INR 60,200-61,500/t ($667-682/t).