National Mineral Development Corporation (NMDC) received a good response in today’s (28th Aug) conducted an auction for 40,000 MT iron ore from its Chhattisgarh mines.
Out of offered material, 8,000 MT was lump ore, 8,000 MT was ROM, 8,000 MT DRCLO and 16,000 MT iron ore fines.
Out of the total quantity offered of 40,000 MT around 32,000 MT comprising of DR-CLO, lump and fines were heard to have booked at base price by the steel mill.
On 21st Aug’19 NMDC Ltd had cut in its iron ore prices. Prices of iron ore fines and lumps were reduced by INR 200/MT and in DR-CLO price cut was by INR 230/MT.
NMDC production and dispatches affected amid monsoon – The company recorded production of 1.95 MnT in Jul’19, down 23% as against 2.52 MnT in Jun’19. However, on yearly basis production moved up by 37% as against 1.42 MnT in Jul’18. According to railway movement data compiled with SteelMint, NMDC supplied only 8 iron ore rakes to Chhattisgarh based units during 1st half of the month (1st-15 Aug’19) over monsoons. On an average NMDC supply around 40-50 rakes to state-based units in a month’s time.
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