Kudremukh Iron ore Company Limited (KIOCL), India's largest state owned Iron ore Pellet manufacturer, based at Mangalore (Karnataka), with 3.5 million tons (MnT) per annum Pellet production capacity, has offered its material through e-tender, to domestic buyers.
A total of 2,000 MT of dry Pellets are offered on Free on Truck (FOT) basis, Pellet plant unit, Mangalore port, exclusive of all taxes, duties and levies.
The tender has received a good response, price bids of the enrolled customers opened the last day (April 30) between 09:00 to 15:00 hours IST.
The final decision about conclusion of the deal is to be taken in a couple of days.
A month earlier – on March 30, the company offered 2,000 MT of dry Pellets through an e-tender, to Indian buyers, interested to procure Pellet.
The tender had fetched high bids, at INR 7,550/MT, which was almost equal to prices standing at Rs 7,600/MT (ex works), at which KIOCL was offering Pellet in domestic market for April.
Tender prices were quoted are on FOT (Free on Truck), Pellet plant unit, Mangalore port, exclusive of all taxes, duties and levies.
Sponge iron manufacturers located in the state of Tamil Nadu, Goa and Karnataka were buyers of the material, dispatches of which are over.
A total of 1.265 MnT of Pellets was produced in April 2012-March 2013.
In April, it was offering Pellets with Fe% 63, in the range of Rs 7,500-7,600/MT (ex works Mangalore).
Prices for May is likely to be declared on the 3rd and it is anticipated that prices might meet with a slight upward movement, looking at good demand for its material last month, from both sponge iron units and Indian Pellet importers in Gandhidham.
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