India’s largest iron ore miner – National Mineral Development Corporation (NMDC) has announced roll over in its floor prices for Karnataka e-auctions following its price roll over the announcement from its Chhattisgarh mines.
On 27th Oct’18, NMDC Chhattisgarh announced, keeping iron ore prices unchanged from it mines. NMDC had hiked iron ore price twice during Sept’18. Later in the month of Oct’18 prices for remained unaltered.
Vizag Steel continued its procurement for iron ore Lumps from Karnataka e-auction in Oct’18. In Oct’18. RINL purchased 1,48,000 MT of Lumps (Fe 62.5%) from NMDC Donimalai at the bid price of INR 3,491MT. In the month of Sept’18, RINL purchased total 2,00,000 MT iron ore from NMDC Kumaraswamy.
| NMDC Kumarswamy E-Auction – | |||||
| Iron Ore Base Prices for Nov’18 (INR/MT) | |||||
| Grade (%) | Fines | M-o-M | Grade (%) | Lump | M-o-M |
| 62.9 | 2,968 | = | 63.8 | 3,520 | = |
| 63.2 | 3,013 | = | 64 | 3,550 | = |
Base prices mentioned are basic
Source: SteelMint Research
Southern India pellet offers decline – Southern India (Bellary) based pellet makers have reduced pellet offers by INR 800/MT to INR 7,200-7,400/MT (basic) against INR 8,000-8,200/MT in last month assessment. Amid declining P-DRI prices, domestic pellet offers observed a decline.
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