MoU9 Sept 2026, 09:34 am
Steel Exchange India signs MoU with NMDC for Iron Ore Fines
AI Summary
Steel Exchange India Limited has entered into a Memorandum of Understanding (MoU) with NMDC Limited for the supply and procurement of iron ore fines with a Fe content of 61-63% and above. The iron ore will be sourced from NMDC's upcoming Buffer Stockpile & Blending Yard in Visakhapatnam. This non-exclusive, non-binding MoU has a primary term of four years and aims to establish a commercial and operational framework. It is expected to support Steel Exchange India's integrated steel manufacturing operations and future expansion plans, subject to definitive long-term agreements.
Key Highlights
- MoU signed with NMDC Limited for iron ore fines supply.
- Framework for consistent grade iron ore with 61-63%+ Fe content.
- Non-exclusive, non-binding agreement with a four-year primary term.
- Supports integrated steel manufacturing and future expansion plans.
- Subject to definitive long-term supply agreements.
Price Impact
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