India’s largest iron ore miner – NMDC conducted iron ore e-auctions today for 701,400t iron ore from its Chhattisgarh mines. Offered quantity comprised of 600,000 t of fines, 50,400 t DR CLO and rest comprised of lump and ROM. The DR-CLO lots received a good response and bids increased by around INR 1,300/t over the set base price, as it is still cost-effective than other substitutes. However, the fines lot received a weak response with just two rakes getting booked at base price, sources reported to SteelMint.
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