Iron ore E-auction held on 22 and 29 of November for NMDC’s Donimalai and Kumarswamy mines received a light response from the bidder, out of 612,000 MT of Iron ore put on bidding only 37% of Iron ores were sold.
Iron ore lumps were unsold on 22 Nov E-auction and only 43% of lumps were sold on 29 Nov E-auction, Bidders shows less interest in the purchase of lumps because of high prices.
Total quantity of Iron ore fines offered in both the E-auction is about 168,000 MT in which 73% of Iron ore fines were sold above the floor price. Total increase of 45% in Iron ore fines prices.
Details of Quantity sold:
Iron ore lumps: 100,000 MT
Iron ore fines: 124,000 MT
Bidders showing more interest in purchase of fines rather than lumps, fines are used in making of Iron ore pellets. The main buyers of fines in this auction were JSW Steel Ltd, BMM Ispat Ltd and Sathavahana Ispat Ltd.
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