National Mineral Development Corporation (NMDC) auction has received a weak response in yesterday’s concluded auction. The miner conducted an auction for 180,000MT of iron ore out of which 40,000 MT calibrated lump ore, 32,000 MT ROM, 60,000 MT iron ore lump and 48,000 MT iron ore fines.
As per sources, the auction received a dull response with only two rakes of DR CLO getting booked at base price. The material was heard to have booked by a southern India based steel mill and west India based mill. Rest of the quantity remained unsold.
Product description:
|
Product
|
Grade | Size(mm) | Qty(in MT) | Location |
| DRCLO | Fe 67% | 10-40 | 40,000 | Bacheli Mechanical Railway Siding |
| ROM | Fe 65.5% | 10-150 | 32,000 | Bacheli Mechanical Railway Siding |
| Lump | Fe 65.5% | 6-40 | 60,000 | Kirandul Mechanical Railway Siding |
| Fines | Fe 64% | (-)10 | 32,000 | Bacheli Mechanical Railway Siding |
| Fines | Fe 64% | (-)10 | 16,000 | Kirandul Mechanical Railway Siding |
Source: SteelMint Research
Last month, NMDC rolled over prices i.e. in line with Mar’18 prices but later in the month decreased its prices by INR 100-110/MT for rest of the month deliveries. So far in May 2018 prices have remained unchanged.
In Apr’18, iron ore sales from Chhattisgarh mines recorded at 1.91 MnT, accounting for 86% of total monthly sales. However, sales stood 30% down M-o-M, as against 2.72 MnT in Mar’18.
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