NMDC has put forward an e-auction for the sales of 340,000 MT Iron ore fines, lump and ROM from Bacheli & Kirandul mines.
NMDC will conduct an e-auction of 160,000 MT Iron ore fines, 120,000 MT Iron ore lump and 60,000 MT ROM on 16 Apr’15. Also, the material shall be delivered on FoR ex-mine basis.
Product Description
| Product | Grade | Size (mm) | Qty (in MT) | Location |
| CLO | Fe 67% | 10-40 | 40,000 | Bacheli Mechanical Railway Siding |
| ROM | Fe 65.5% | 10-150 | 60,000 | Bacheli Mechanical Railway Siding |
| Lump | Fe 65.5% | 6-40 | 80,000 | Kirandul Mechanical Railway Siding |
| Fines | Fe 64% | -10 | 80,000 | Kirandul Mechanical Railway Siding |
| Fines | Fe 64% | -10 | 80,000 | Kirandul Mechanical Railway Siding |
Source: SteelMint Research
Interested buyers should give their quotations in INR/MT FoR and shall be exclusive of royalty, sales tax and any other statutory duties, levies and taxes etc, which are applicable at time of supply. Last date for bid submission will be 16 Apr’15 at 12.00 hrs and the auction will be conducted on the same day at 14.00 hrs.
Note: NMDC had earlier conducted an e-auction for 340,000 MT Iron ore on 26 Mar’15.
NMDC kept Iron Ore Prices unchanged for April 2015
NMDC has kept Iron ore prices unchanged for April after stiff prices reduction in the last two months. In March, the company had reduced prices by INR 300/MT for lumps or higher grade Iron ore and by INR 500/MT in fines to fix the prices at INR 3,250/MT and INR 2,460/MT for lump and fines respectively in the current month. The company revises the price of its production every month.
In February, the miner had slashed rates by INR 450/MT for lumps and INR 300/MT for fines. Compared to April month in FY15, NMDC’s prices are lower by INR 1,250/MT for lumps and INR 450/MT for fines.
NMDC, is a state owned and the largest producer of Iron ore in India with an annual production of 30 MnT. Company has set a target of 35 MnT Iron ore production and sale of 38 MnT, which would include inventories for 2015-2016.
| Size/ Grade | Current Prices | Prices as on 1 Month before | Prices as on 3 Month before |
| 6-40mm, Fe 65% | 3,250 | 3,250 | 4,200 |
| 10-150mm, Fe 65% | 2,860 | 2,860 | 3,690 |
| Blue Dust/Fines, Fe 64% | 2,460 | – | – |
| 10-40mm, Dr Clo, Fe 67% | 4,040 | 4,040 | 4,990 |
Prices in INR/MT; excluding Royalty of 15%
Source: SteelMint Research
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