A total of 1,76,000 WMT of Iron ore was e-auctioned by NMDC Limited from Bailadila Mines in the state of Chhattisgarh on December 14.
NMDC has to e-auction some quantity of iron ore in the state of Chhattisgarh, according to Supreme Courts order.
Buyers had shown no interest then as it was difficult on their part to pay high for good quality iron ore.
The same quantity of iron ore is to be offered again through e-auction which is to take place on December 27 in Chhattisgarh.
There are chances that steel plants might show some interest this time on account of rising steel prices and some improvement being seen in international market.
It would also be a wise decision if buyers start lifting the raw material at this point of time when steel makers are raising offers and also before NMDC starts offering good quality iron ore at high base/floor prices.
Below are the details of iron ore size, quantity and Fe%:
40,000 WMT of 10-40 MM Fe 67% Iron ore DR CLO from Bacheli
16,000 WMT of 10-150 mm Fe 65.5% Iron ore ROM from Bacheli
20,000 WMT of 6-40 mm 65.5% Iron ore lumps from Kirandul
And 50,000 WMT of 10 mm Fe 64% Iron ore fines both from Bacheli and Kirandul each.
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