NMDC has put forward an e-auction for sale of 340,000 MT Iron ore fines, lump and ROM from Bacheli & Kirandul Mines.
National Mineral Development Corporation (NMDC) will conduct an e-auction of 164,000 MT Iron ore lumps, 160,000 MT Iron ore fines and 60,000 MT ROM on 06 May’15. The material shall be delivered on FoR ex-mine basis.
Product Description
| Product | Grade | Size (mm) | Qty (in MT) | Location |
| CLO | Fe 67% | 10-40 | 80,000 | Bacheli Mechanical Railway Siding |
| ROM | Fe 65.5% | 10-150 | 60,000 | Bacheli Mechanical Railway Siding |
| Lump | Fe 65.5% | 6-40 | 80,000 | Kirandul Mechanical Railway Siding |
| Fines | Fe 64% | (-)10 | 80,000 | Kirandul Mechanical Railway Siding |
| Fines | Fe 64% | (-)10 | 80,000 | Kirandul Mechanical Railway Siding |
| Lump | Fe 65.5% | 6-40 | 4,000 | Mines stock pile, Kirandul |
Source: SteelMint Research
Interested buyers should give their quotations in INR/MT FoR, exclusive of royalty, sales tax and any other statutory duties, levies and taxes etc, which are applicable at time of supply. Last date for bid submission will be 06 May’15 at 12.00 hrs and the auction will be conducted on the same day at 14.00 hrs.
NMDC Prices review in April’15
- In the beginning of April, the company had kept price levels unchanged as compared to March at INR 2,860/MT for ROM, INR 4,040/MT for CLO and INR 3,250/MT for lumps.
- In mid-April, the company made a surprise price cut of INR 200-500/MT for a period from 18 Apr to 30 Apr’15, so as to compete with cheaper imports, as declining global Iron ore prices dive to a 10 year low.
Prices from Jan’15-Apr’15
| Month | 10-150 mm (Fe 65%) |
10-40 mm, DR CLO (Fe 67%) |
6-40 mm (Fe65%) |
Blue Dust/Fines (Fe 64%) |
| Apr’15* | 2,660 | 3,840 | 3,050 | 1,960 |
| Apr’15 | 2,860 | 4,040 | 3,250 | 2,460 |
| Mar’15 | 2,860 | 4,040 | 3,250 | 2,460 |
| Feb’15 | 3,300 | 4,540 | 3,750 | 2,760 |
| Jan’15 | 3,690 | 4,990 | 4,200 | 3,060 |
*Prices effective from 18-30 Apr’15
Royalty and other taxes extra
Source: SteelMint Research
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