NMDC, the central government-owned mining entity Ltd, had put 56,000 MT iron ore for auction for non MoU customers which ended on 23 Oct’17. Out of which 16,000 MT was fines and 8,000 MT was DR-CLO (Calibrated Lumps Ore) and 8,000 MT was lump.
As per sources, NMDC has fetched premium of around INR 300/MT for lumps ore, where as fines went unsold. Lumps received bids at INR 3,081/MT, against a base price INR 2,781/MT on ex-mines basis, (Royalty, DMF, NMET and taxes extra), according to market participants. This is primarily because of short supply of DR-CLO with NMDC and high demand from Chhattisgarh based steel units.
NMDC is the largest iron ore miner in the country, with an annual production of 34.15 MnT in FY17. Out of this 22.03 MnT is produced from Chattisgarh mines and 12 MnT from Karanataka.
NMDC Iron ore rake movement from Chattisgarh Based Mines
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NMDC (C.G.) Iron ore rake movement : October (Till 17 October) Vs September’17 |
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| Seller | Buyer | Oct-17 |
Sept-17 |
| NMDC(CG) to Chhattisgarh based Plant | SKS Ispat | 3 | 9 |
| Shivalay Ispat & Power Pvt Ltd | 2 | – | |
| Gopani Iron & Power Ltd. | 2 | 1 | |
| Bhagwati Power Steel | 2 | – | |
| Shri Nakoda Ispat Ltd | 2 | 1 | |
| Gopal Sponge | 2 | – | |
| Aarti Sponge & Power Ltd | 2 | – | |
| Vandana Global Ltd | 1 | 2 | |
| Ghankun Steel Pvt. Ltd. | 1 | 1 | |
| Real Ispat & Power Ltd | 1 | – | |
| Mahendra Sponge & Power Ltd | 1 | – | |
| Sunil Sponge | 1 | 1 | |
| Monnet Ispat & Energy Ltd | 1 | – | |
| Nutan Ispat & Power Ltd. | 1 | 1 | |
| Phil Ispat | 1 | 1 | |
| Agrawal Sponge Ltd. | – | 1 | |
| API Ispat & Power | – | 2 | |
| Niros Ispat | – | 1 | |
| Vaswani Industries | – | 1 | |
| Hi Tech Power Steel | – | 1 | |
| Drolia Electrosteel Ltd | – | 1 | |
| Rashmi Sponge Iron & Power Ltd | – | 1 | |
| Shree Sita Ispat & Power Pvt. Ltd. | – | 1 | |
| Navbharat Fuses Co. Ltd. | – | 1 | |
| Total | 23 | 27 | |
| NMDC(C.G.) to Other State | Rastriya Ispat Nigam Ltd | 35 | 96 |
| JSW Steel, Dolvi | 15 | 70 | |
| Kudremukh Iron Ore Company Ltd | 14 | 47 | |
| Gallant Metal Ltd. | 1 | 4 | |
| Noble Tech Industries Ltd. | 1 | 2 | |
| Steel Exchange India Ltd | 1 | 3 | |
| Welspun Max Steel Ltd | 1 | 3 | |
| Maha Maya | 1 | 2 | |
| Sunflag Iron & Steel Company Ltd | – | 2 | |
| Essar Steel (Through Pipe Line) | – | 2 | |
| NMDC | – | 2 | |
| Total | 69 | 233 | |
| Export | 12 | 16 | |
| Grand Total | 104 | 276 | |
Each rake carries approximately 3,850 MT iron ore
Essar Steel’s movement through slurry pipeline excluded
Source: SteelMint Research, Railways
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