India’s largest iron ore miner – National Mineral Development Corporation (NMDC) is going to conduct an e-auction for 128,000t lump & fines ore. The auction will start on 02 Jul’20 13:00 Hrs. to 14:30 Hrs.
Product description:
| Product | Grade | Qty(in t) | Location |
| DRCLO | Size: 10-40 mm Fe:67% | 24,000 | Bacheli |
| Baila ROM | 10-150 mm Fe: 65.5% | 40,000 | |
| Baila Fines | 10 mm Fe: 64% | 28,000 | |
| Baila Lump | 6-40 mm Fe:65.5% | 24,000 | Kirandul |
| Baila Fines | 10 mm Fe: 64% | 12,000 | |
| Total Offered Qty. | 128,000 | ||
Notably, NMDC slashed iron ore fines and lump prices by INR 400/MT and DR CLO by INR 470/MT for the month of May’20, marking the 2nd significant consecutive price cut after Apr’20. Bookings improved significantly after price cut. NMDC has supplied a total of 249 rakes (0.96 MnT) of iron ore in the month of May’20, up 53% against 163 rakes (0.63 MnT) a month before in Apr’20, according to railway movement data maintained with SteelMint.
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