National Mineral Development Corporation (NMDC) today conducted an auction for 112,000 MT iron ore from its Chhattisgarh mines. Out of the total quantity offered, 40,000 MT was DR-CLO; 16,000 MT was ROM, 16,000 MT was a lump and rest 40,000 MT was fines.
According to market sources report to SteelMint, DR-CLO fetched flat bids and bids placed was at the base price of INR 4,655/MT (basic). The entire quantity of DR-CLO offered was booked. As per sources, JSW Steel booked 36,000 MT DR CLO and the rest 4,000 MT booked by other company. However, updates of other material offered in the e-auction were not received at the time of publishing this report.
On 26th Sept’18, NMDC increased Baila fines prices by INR 200/MT, Baila lump by INR 300/MT, ROM by INR 280/MT and DR-CLO by INR 360/MT. Last month on 14th Sept’18 NMDC conducted auction from Chhattisgarh mines in which Indian steel mills actively participated in booking DR-CLO and fetched a premium of around INR 1,020/MT.
NMDC (C.G.) Iron Ore Rake Movement Increased 54% in Sep’18 – NMDC supplied 241 rakes of iron ore in Sep’18, up 54% on monthly basis, against 157 rakes in Aug’18. Procurement of NMDC iron ore by Chhattisgarh based units increased significantly to 44 rakes in Sep’18 as against being 18 rakes in Aug’18.JSW Steel (Dolvi) sourcing from NMDC increased to 19 rakes in Sep’18 as against 12 rakes a month before.
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