Steel Exchange India Signs Four-Year MoU With NMDC; Shares Gain 4.42%

Mumbai September, 09: Steel Exchange India Limited has signed a Memorandum of Understanding with NMDC Limited to explore a long-term arrangement for sourcing consistent-grade iron ore fines for its steel manufacturing operations.

The MoU was executed on September 8, 2026, according to the company’s exchange filing. It sets out a commercial and operational framework for the supply and procurement of iron ore fines with an iron content of 61% to 63% and above.

The material is expected to be sourced from NMDC’s upcoming Foster Coke Storage and Blending Yard at Visakhapatnam, Andhra Pradesh.

For Steel Exchange India, the arrangement could help create a more structured raw material sourcing channel as the company works on its expansion plans. However, the MoU is non-exclusive and non-binding, so it should not be treated as a confirmed supply order at this stage.

Stock Market Snapshot

The Steel Exchange India share price was trading at ₹12.04, up ₹0.51 or 4.42%, as of 9:54:15 AM IST on September 9, 2026, according to the market data shown.

The stock started the session near ₹11.58 and moved higher as the morning progressed. It briefly traded above ₹12.10 before the latest quoted price of ₹12.04.

The rise comes alongside the company’s disclosure of the NMDC MoU. There is, however, no order value or fixed revenue commitment attached to the agreement in the filing.

NMDC Deal Could Strengthen Raw Material Sourcing

The proposed arrangement is centred on consistent-grade iron ore fines, an important input for steel manufacturing.

Rather than announcing a one-time purchase order, Steel Exchange India and NMDC have established a framework under which potential long-term supplies can be worked out. Any actual procurement will depend on definitive Long-Term Agreements between the two parties.

The primary term of the MoU is four years. The company said the arrangement is expected to support its expansion plans in the near future.

Steel Exchange India Builds On Its Steel Manufacturing Operations

Steel Exchange India is engaged in the steel manufacturing business, where the availability, quality and consistency of raw materials are central to production efficiency.

The proposed sourcing arrangement with NMDC gives the company a potential avenue for securing iron ore fines from a major domestic iron ore producer.

At this stage, the agreement is best viewed as a framework for future commercial arrangements rather than an immediately executable revenue contract.

Conclusion

Steel Exchange India has entered into a four-year MoU with NMDC for the potential supply and procurement of consistent-grade iron ore fines.

The agreement covers material with an iron content of 61% to 63% and above and is non-exclusive and non-binding. Actual supplies will be subject to definitive agreements between the two companies.

Meanwhile, the Steel Exchange India share price stood at ₹12.04, gaining 4.42% as of 9:54:15 AM IST on September 9, 2026.

Source:

• https://www.nseindia.com/get-quote/equity/STEELXIND/STEEL-EXCHANGE-INDIA-LIMITED
• https://nsearchives.nseindia.com/corporate/STEELXIND_09092026093450_Intimation_under_Regulation_30_09092026_Final.pdf