India’s largest iron ore miner – National Mineral Development Corporation (NMDC) received a good response in today’s (04th Dec 2019) conducted e-auction for 76,000 MT iron ore from its Chhattisgarh mines.
Out of the total quantity offered 20,000 MT calibrated lump ore, 20,000 MT DR CLO, 8,000 MT ROM and 28,000 MT iron ore Fines from its Chhattisgarh mines.
If sources to be believed the entire quantity of DRCLO and fines bought by Indian steel mill at base price. However, the outcome of other lots could not be received at the time of publishing this report.
NMDC announced a cut in its iron ore prices on 14 Nov’19. Prices of iron ore fines and lumps were reduced by INR 100/MT and in DR-CLO price cut was by INR 120/MT and ROM by INR 90/MT. Prices of Baila lump ore is at INR 2,600 per wet metric tonne (wmt), Baila iron ore fines are at INR 2,360 per wet metric tonne and DR CLO is at INR 3,020 per wet metric tonne. FoR prices mentioned are excluding Royalty, DMF, NMET and other taxes.
Product description of auction conducted today:
| Product | Grade | Qty (in MT) | Location |
| DR-CLO | Fe 67% | 20,000 | Bacheli Mechanical Railway Siding |
| ROM | Fe 65.5% | 8,000 | Bacheli Mechanical Railway Siding |
| Fines | Fe 64% | 20,000 | Bacheli Mechanical Railway Siding |
| Lump | Fe 65.5% | 20,000 | Kirandul Mechanical Railway Siding |
| Fines | Fe 64% | 8,000 | Kirandul Mechanical Railway Siding |
Source-: SteelMint
NMDC Iron Ore Rake Movement Up 15% in Nov’19 -: NMDC (Chhattisgarh) supplied a total 348 rakes (1.34 MnT) of iron ore in the month of Nov’19, up 15% against 303 rakes (1.17 MnT) a month before in Oct’19, according to railway movement data maintained with SteelMint.
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