NMDC is to offer 388,000 MT of Iron ore (lumps and fines) to steelmakers located in the state of Karnataka, on the 22nd of February through e-auctions from its Donimalai and Kumarswamy mines.
Donimalai Mines:
Iron ore Lumps 80,000 MT
Iron ore fines 100,000 MT
Low grade Iron ore fines 48,000 MT
Kumarswamy Mines
Calibrated Iron ore lumps 80,000 MT
Iron ore fines 80,000 MT
On the 11th of this month, NMDC e-auctioned a total of 3,48,000 MT of Iron ore.
Iron ore Lumps 72,000 MT, iron ore calibrated lumps 96,000 MT, iron ore fines 132,000 MT and iron ore low grade fines 48,000 MT
Donimalai mines: Iron ore Lumps 72,000 MT, iron ore fines 52,000 MT and iron ore low grade fines 48,000 MT
Kumarswamy mines: Iron ore calibrated lumps 96,000 MT and iron ore fines 80,000 MT
NMDC sold out 200,000 MT of its raw material.
Kumarswamy mines: Fines 80,000 MT (Fe % 61 & 62) and Calibrated lumps 36,000 MT (Fe % 62)
Donimalai mines: Fines 12,000 MT (Fe % 62), 20,000 MT (Fe% 62.5) and 20,000 MT (Fe% 64)
Lumps 12,000 MT (Fe% 62.96) and 20,000 MT (Fe% 64)
The base price was a 7% increase over the floor price.
JSW continued to stand as the biggest buyer: Kumarswamy: Fines 28,000 (Fe% 62) and 20,000 (Fe% 61)
Donimalai: Fines 8,000 (62%) 16,000 (Fe% 62.5) and 16,000 (Fe% 64) Lumps 12,000 MT (Fe% 62.96) and 20,000 (Fe% 64)
According to steelmakers in Karnataka, “Due to the advantage of cheap logistics cost of around Rs 300 only, JSW has remained as the biggest buyer. Whereas, we have to pay around Rs 1,200 for the same.
Though, the e-auction material is in no way profitable but with no other option left out, we are dependent on NMDC.
Until and unless, the raw material availability crisis in the industry improves, we don't see any sort of advantage from the e-auction material”.
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