Dear Valued User,
As the world's second-largest crude steel producer and one of its significant iron ore producing nations, India has seen continuous expansion in domestic infrastructure, manufacturing, and steelmaking capacity in recent years. As a result, fluctuations in India's iron ore consumption and domestic trade prices carry important reference value for iron ore supply-demand dynamics, trade flows, and price formation across Asia and globally. Indian iron ore spans multiple grade tiers, with Fe 65.5% lump and Fe 64% fines representing the two mainstream grades that command the greatest market attention. Price performance and supply-demand drivers differ meaningfully across grades, making timely tracking of domestic benchmark prices for different iron ore grades an important reference for participants throughout the value chain.
To further strengthen SMM's Indian iron ore pricing and data framework, enhance transparency around India's domestic iron ore trade prices, and provide upstream and downstream industry participants with more timely and systematic data reference, SMM officially launched Indian iron ore domestic trade price data points on August 17, 2026, covering two principal grade benchmarks: Fe 65.5% lump ore and Fe 64% fines.
I. Data Point Names
(I) India Lump Ore Ex-Works Price — Fe Grade 65.5%
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SMM: India Lump 65.5%: Ex-Works Price: Weekly
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SMM: India Lump 65.5%: Ex-Works Price (USD equivalent): Weekly
(II) India Fines Ex-Works Price — Fe Grade 64%
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SMM: India Fines 64%: Ex-Works Price: Weekly
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SMM: India Fines 64%: Ex-Works Price (USD equivalent): Weekly
II. Release Frequency and Timing
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Update Frequency: Weekly
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Data Units: Indian Rupee per tonne (INR/t); US Dollar per tonne (USD/t)
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First Release Date: August 17, 2026
The above data points will enable users to track real-time movements in India's domestic iron ore prices, monitor raw material trends along India's steel industry value chain, and provide reference information for iron ore producers, traders, end-users, and other market participants when analysing selling prices, raw material costs, trading margins, and market trends.
SMM will continue to monitor global steelmaking raw material markets, iron ore pricing mechanisms, and related policy developments, with timely updates to the relevant data series.
Should you have any questions or suggestions, please do not hesitate to contact us.
SMM Ferrous Metals Research Team
August 14, 2026