Steel Exchange India shares soar 12% on signing MoU with NMDC for long-term iron ore procurement; check details

At around 3:11 PM, the stock was trading 3.73% higher at ₹11.96 per equity share. The scrip has soared 13% in the past week and 7% over the month. On a year-to-date (YTD) basis, it has jumped 26%.

While the shares hit a 52-week high of ₹13.95 apiece on June 22, 2026, they touched a year’s low of ₹7 per unit on March 30, 2026.

According to an exchange filing, the strategic MoU establishes a commercial and operational framework for the supply and procurement of consistent-grade iron ore fines (Fe 61–63% and above) sourced from NMDC's upcoming Buffer Stockpile & Blending Yard at Visakhapatnam, Andhra Pradesh.

“This agreement significantly enhances SEIL’s raw material security, providing direct conveyor, FOB, FOR, FOT, or Ex-Stockpile supply access to consistent-grade iron ore right in its proximity,” the integrated steel manufacturing company said.

With the MoU, SEIL has secured long-term access to consistent-grade iron ore fines tailored for its integrated steel manufacturing needs.

The pact includes a primary four-year term, establishing the operational blueprint for upcoming Long-Term Agreements (LTAs), SEIL further said.

Furthermore, SEIL stated that the proximity of NMDC’s Visakhapatnam hub to its integrated production facilities near Visakhapatnam will yield substantial logistics cost advantages and operational agility, adding that the tie-up will reinforce its backward integration strategy and mitigate supply volatility.

Commenting on the development, the management of SEIL said: "Signing this strategic MoU with NMDC Limited marks a significant operational milestone in our journey toward long-term operational resilience and sustainable growth. Having recently expanded our Re-Bar manufacturing capability through our new Reheating Furnace, securing consistent grade iron ore from NMDC's Visakhapatnam Buffer Hub solidifies our raw material pipeline.”

The management further added that the partnership will optimise the company’s input logistics, drive cost efficiencies, and support our commitment to expanding our market leadership in quality long steel products.

Steel Exchange India has a total market capitalisation of ₹1,525.52 crore as of September 9, 2026, according to data on the NSE.