India’s largest iron ore miner – NMDC conducted iron ore e-auctions today for 231,000t iron ore from its Chhattisgarh mines, out of which 180,600 t from its Bacheli mines and 50,400 t from Kirandul mines. According to market sources report to SteelMint, the auction received aggressive response with bids moving up by around INR 280/t in fines, INR 930/t in DR-CLO, INR 300/t in ROM and INR 600/t in lump over the set base price. Tighter availability of high grade ore in Odisha has resulted in increased bids in today’s auction.
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