Through e-auctions on February 1, NMDC was able to sell out 46% i.e. 212,000 MT of the total Iron ore offered from its Kumarswamy and Donimalai mines in Karnataka.
The bid price was a 19% increase over the floor price.
A senior NMDC official shared with SteelMint, “Our fines is ok. But lumps are probably, a bit on the higher side and not matching with prevailing market prices”.
NMDC was left out with no unsold fines. Whereas, only 17% of low grade fines, 28% of calibrated lumps and 55% of lumps was sold out this time.
A steelmaker based in Karnataka said, “Though, there are other supply sources for low grade fines, story remains same that NMDC's expensive lumps did not interest many steelmakers in Karnataka and high grade fines were in demand as NMDC is the only source at the moment”.
Details of sold out quantity:
Fe% 62.8 to 63.5 iron ore lumps: 44,000 MT
Fe% 62 iron ore calibrated lumps: 28,000 MT
Fe% 60 to 62.5 iron ore fines: 132,000 MT
Fe% 59.03 (low grade) iron ore fines: 8,000 MT
JSW lifted the highest quantity of fines i.e.104,000 MT of Fe% 60 to 62.5 fines and 36,000 MT of Fe% 62.8 to 63.5 lumps.
From Donimalai mines: Fe% 59.03 (low grade) iron ore fines: 8,000 MT, Fe% 61.5-62.5 iron ore fines: 52,000 MT and Fe% 62.8 to 63.5 iron ore lumps: 44,000 MT.
From Kumarswamy mines: Fe% 60 to 61 iron ore fines: 80,000 MT and Fe% 62 iron ore calibrated lumps: 28,000 MT.
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