India’s largest iron ore miner – National Mineral Development Corporation (NMDC) is going to conduct an e-auction of 40,000 MT calibrated lump ore, 16,000 MT ROM, 16,000 MT iron ore lump and 40,000 MT iron ore fines.
On 26th Sept’18, NMDC increased Baila fines prices by INR 200/MT, Baila lump by INR 300/MT, ROM by INR 280/MT and DR-CLO by INR 360/MT. This was miner’s 2nd iron ore price hike made in a month’s time. Prior to this on 7th Sept the miner had raised prices by INR 150-370/MT.
Product description:
| Product | Grade | Size(mm) | Qty(in MT) | Location |
| DRCLO | Fe 67% | 10-40 | 40,000 | Bacheli Mechanical Railway Siding |
| ROM | Fe 65.5% | 10-150 | 16,000 | Bacheli Mechanical Railway Siding |
| Lump | Fe 65.5% | 6-40 | 16,000 | Kirandul Mechanical Railway Siding |
| Fines | Fe 64% | (-)10 | 32,000 | Bacheli Mechanical Railway Siding |
| Fines | Fe 64% | (-)10 | 8,000 | Kirandul Mechanical Railway Siding |
Source: SteelMint Research
Last date for submitting the required documents is 23 Oct’18 till 12:00 hrs and the auction will start on same day at 13:00 hrs.
For contact details and other information view TENDER SECTION
NMDC’s DR CLO fetched high premium in last month’s auction – NMDC conducted e-auction for 76,000 MT iron ore from its Chhattisgarh mines on 14 Sept’18. According to market sources report to SteelMint, Indian steel mills actively participated in booking DR-CLO and fetched a premium of around INR 1,020/MT to INR 5,312/MT (basic) against base price which was INR 4,292/MT (basic). Mills had actively booked DR-CLO amid less availability in the market.
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