NMDC has lowered base price from Kumarswamy mines by around INR 550/t ($8) for both fines and lumps in upcoming (Feb’21) Karnataka iron ore e-auction, sources have confirmed SteelMint. The current floor price for fines (Fe 61.5%) stands at INR 3,475/t and that of lump (Fe 61.9%) is at INR 4,809 (basic, exclusive of Royalty, DMF & NMET). Decline in pellet and sponge prices have resulted in lowering of offers.
Leave a Reply