From its Bacheli and Kirandul mines located in the state Chhattisgarh, NMDC is to offer a total of 164,000 MT of Iron ore (lumps and fines), through e-auctions on May 10.
Inspection of the material will take place from May 4 to 9.
Details of material of be offered:
From Bacheli
16,000 MT 10-40 mm DR-CLO Fe% 67
12,000 MT 10-150 mm Baila ROM Fe% 65.5
16,000 MT Baila Fines Fe% 64
From Kirandul
40,000 MT 6-40 mm Baila Lump Fe% 65.5
80,000 MT Baila Fines Fe% 64
For transportation of Iron ore by Rail/Road, as per Government of Chhattisgarh order, transit fee of Rs 7/MT is collected by NMDC and paid to CG forest division.
Transit fee: In addition to royalty, sales tax/VAT, forest development tax, forest permit fee and labour welfare cess or any other statutory duty, levies & taxes etc.
NMDC is expected to officially declare its May Iron ore prices on the 4th.
April Iron ore prices:
6-40 mm Kirandul lumps Fe% 65 Rs 4,600/MT, after being reduced by Rs 350/MT (7.1%) on April 2.
And, 10-150 mm Bacheli ROM Fe% 64 Rs 4,000/MT, after being lowered by Rs 260/MT (6.1%).
Iron ore fines Fe% 64 was unchanged at Rs 2,610/MT
(Basic prices, excluding royalty and taxes).
Prices of lumps have further room for correction on the reasons that demand did not meet with any major improvement in the month of April, from both its long term customers who are facing funds crunch as well as in e-auctions, where steelmakers in Karnataka find it difficult to procure expensive lumps.
Sponge iron prices and demand has also come down and units have cutback production capacities.
Whereas, sales of NMDC's fines is doing well.
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