India’s largest iron ore producer, National Mineral Development Corporation (NMDC) conducted an e-auction for 180,000 MT iron ore from its Chhattisgarh mines on 08 Feb’18. Out of the total quantity put up for auction, 32,000 MT was DR-CLO; 56,000 MT was fined, 32,000 MT was ROM and 60,000 MT lump.
According to market sources report to SteelMint, bids for DR-CLO remained flat and close to the base price. JSW remained the major buyer and booked around 27,000 MT at base price. Another buyer’s bid above INR 10/MT over the base price.
Details of e-auction conducted:
| Size | Quantity (MT) |
| 10-40 mm, DR CLO | 32,000 |
| Baila ROM, 10-150 mm | 32,000 |
| Bail Fines (Bacheli) | 40,000 |
| Baila lump (Kirandul) , 6-40 mm | 60,000 |
| Baila Fines (Kirandul) | 16,000 |
Source- SteelMint Research
India’s largest iron ore producer, National Mineral Development Corporation (NMDC, Chhattisgarh) rolled over in its prices for Feb’18 deliveries except for a marginal decrease of INR 30/MT in DR-CLO. Current prices for Baila lump (Fe 65%) is INR 3,100/MT, Baila fines (Fe 64%) is INR 2,760/MT and DR-CLO – INR 3,600/MT (FoR prices, Royalty, DMF and other taxes extra).
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