Steel Exchange India Share Price Surges Over 7% on Signing MoU with NMDC

Steel Exchange India Limited has entered into an MoU with NMDC Limited to set up a framework for the supply and purchase of iron ore. The agreement was signed on September 8, 2026, and was disclosed by the company on September 9.  

Under the agreement, Steel Exchange India can source iron ore fines from NMDC's upcoming Buffer Stockpile & Blending Yard at Visakhapatnam in Andhra Pradesh. The ore will have an Fe content of 61-63% and above.  

MoU with NMDC 

The MoU is for four years and is non-exclusive and non-binding. It provides a basic framework for a possible long-term supply of iron ore to Steel Exchange India's integrated steel manufacturing operations.  

The actual long-term supply will depend on the definitive agreements that both companies may sign later. So, the MoU itself does not confirm a fixed quantity or value of iron ore supply.  

Iron Ore for Steel Production 

Steel Exchange India operates an integrated steel manufacturing facility, and the proposed arrangement with NMDC is linked to its requirement for iron ore. 

The company said the MoU is expected to support its expansion plans in the near future.  

Agreement Covers Four Years 

The agreement has a primary term of four years. Since it is non-binding, further agreements will be needed before any long-term supply arrangement is finalised. 

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Steel Exchange India Share Price Performance 

As of September 09, 2026, at 11:32 AM, Steel Exchange India share price was trading at ₹12.43 per share, reflecting a surge of 7.81% from the previous trading session. 

Conclusion 

Steel Exchange India has signed a four-year, non-exclusive and non-binding MoU with NMDC for the possible supply of iron ore fines from NMDC's upcoming facility in Visakhapatnam. The company said the arrangement is linked to its steel operations and expansion plans.  

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