National Mineral Development Corporation (NMDC) conducted an e-auction on 26th Jul18 for 176,000 MT iron ore. Out of this, 32,000 MT calibrated lump ore, 60,000 MT ROM, 60,000 MT iron ore lump and 24,000 MT iron ore fines.
As per the sources report, auction received a good response. DR CLO got booked at a premium of INR 300-310/MT premium. 32,000 MT Baila lump was booked at the base price and rest remain unsold. Baila fines were booked at base price. However, the entire quantity of ROM remained unsold.
The iron ore will be delivered on FOR Ex-Mine Basis by Rail and the contract period is 45 days from the date of issuance of an offer.
Product description:
| Product | Grade | Size(mm) | Qty(in MT) | Location |
| DRCLO | Fe 67% | 10-40 | 32,000 | Bacheli Mechanical Railway Siding |
| ROM | Fe 65.5% | 10-150 | 60,000 | Bacheli Mechanical Railway Siding |
| Lump | Fe 65.5% | 6-40 | 60,000 | Kirandul Mechanical Railway Siding |
| Fines | Fe 64% | (-)10 | 12,000 | Bacheli Mechanical Railway Siding |
| Fines | Fe 64% | (-)10 | 12,000 | Kirandul Mechanical Railway Siding |
Source: SteelMint Research
Recently on 26 July’18 NMDC has reduced base prices in Karnataka e-auctions. Fines prices have come down by INR 300/MT and lump prices by INR 100/MT. However, in Chhattisgarh, the miner has kept prices unchanged.
Earlier in the mid of the month, NMDC (Chhattisgarh) increased prices by INR 140-180/MT with effect from 10 Jul’18. Baila fines and lumps prices have moved up by INR 150/MT and prices of ROM by INR 140/MT. DR-CLO prices have increased by INR 180/MT. As per market sources, owing to increased demand of high-grade ore in the domestic market, NMDC iron ore had increased prices.
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