Kudremukh Iron ore Company Limited (KIOCL), India's largest state owned Iron ore Pellet manufacturer, based at Mangalore (Karnataka), has received a good response for its May Pellet e-tender (domestic), floated on April 30.
For its enrolled customers, Pellet (with Fe% 63) prices for May is quoted at Rs 7,550/MT (ex works Mangalore), which opened on April 30 between 09:00 to 15:00 hours IST.
KIOCL has an annual installed Pellet production capacity of 3.5 million tons (MnT) and decides its domestic prices for Pellet on a monthly basis, through the e-tender floated during the end of each month.
A total of 1.265 MnT of Pellet was produced in April 2012-March 2013 as its sales was limited to domestic market only.
In April, it was offering Pellets with Fe% 63 at Rs 7,600/MT (ex works Mangalore).
Demand for KIOCL's material is good from both sponge iron units located in the state of Tamil Nadu, Goa and Karnataka and Indian Pellet importers based in Gandhidham (Gujarat), who are preferring to place bookings for KIOCL's material rather than imported one.
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