- Premium bids emerge for DRCLO by 10-11%
- Raipur pellet prices rise for the third time in July
NMDC sold 73,100 t of iron ore at its Chhattisgarh auctions held on 16 July.
At Bacheli, 21,500 t of DR CLO (10-40 mm, Fe 67%) was booked at INR 6,510/t (FOR) against a base price of INR 5,900/t, reflecting a premium of INR 610/t. However, the entire 76,200 t of iron ore fines offered at INR 3,790/t remained unsold.
At Kirandul, 51,600 t of Fe 64% fines (FOR) was sold at the base price of INR 4,740/t, while 20,000 t of FOT fines remained unsold. Prices exclude royalty, DMF and NMET.
The auction comes after NMDC reduced its list prices on 10 July, cutting prices by INR 150-500/t across grades. The revised prices appear to have supported demand for lump ore, while iron ore fines also see some buying interest by the Odisha-based plants
Meanwhile, pellet manufacturers in Raipur increased offers for Fe 62.5/63% pellets by INR 300/t to INR 9,600-9,700/t ex-works, marking the third price increase in July and taking cumulative hikes to INR 600-700/t. The increase was driven by improved demand from sponge iron producers and temporary supply tightness following production disruptions at multiple pellet plants.
Leave a Reply