Steel Exchange India Limited and NMDC Enter Memorandum of Understanding for Iron Ore Supply
Steel Exchange India Limited has established a Memorandum of Understanding (MoU) with NMDC Limited to secure a commercial and operational framework for the supply and procurement of Consistent grade Iron Ore Fines. The partnership was formalized on September 08, 2026.The MoU outlines the framework for sourcing Iron Ore Fines from NMDC's upcoming Buffer Stockpile and Blending Yard located at Visakhapatnam in Andhra Pradesh. The required specifications for the Iron Ore Fines include a Fe content of 61-63% and above.
The agreement, which holds a primary term of four years, is designed to provide a framework for the potential long-term supply of iron ore. This supply is intended to support Steel Exchange India Limited's integrated steel manufacturing operations and is subject to the terms detailed in definitive Long-Term Agreements to be concluded by both parties.
The non-exclusive and non-binding MoU is expected to aid the Company in its expansion plans in the near future.
STEELXIND Stock Price Movement
Shares of STEEL EXCHANGE INDIA LIMITED are edging higher to ₹11.94 as of 10:13 AM, rising strongly by 3.56%. The stock is attracting significant investor interest, with 6.88 million shares currently trading.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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