Material has been offered from Chhattisgarh region, namely Kirandul and Bacheli mines.
National Mineral Development Corporation (NMDC) will conduct an e-auction of 60,000 MT iron ore lump, 160,000 MT iron ore fines and 40,000 MT ROM on 14 July’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 | 12,000 | Bacheli Mechanical Railway Siding |
| ROM | Fe 65.5% | 10-150 | 40,000 | Bacheli Mechanical Railway Siding |
| Lump | Fe 65.5% | 6-40 | 40,000 | 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 | 8,000 | 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 14 July’15 at 12.00 hrs and the auction will be conducted on the same day at 14.00 hrs.
NMDC Price-Review for July’15
- NMDC has cut fines prices by 15% and lumps prices by 3.2% for July deliveries.
- Since the beginning of Q1 FY16, NMDC has cut prices for 10-150 mm by 7%, 10-40 mm by 5%,6-40 mm by 9.2% and fines by 32.5%.
- Prices have been cut on backdrop of falling global prices and recent cut by Odisha based merchant miners.
Prices from April’15-July’15
| Month | 10-150 mm (Fe 65%) |
10-40 mm, DR CLO (Fe 67%) |
6-40 mm (Fe 65%) |
Blue Dust/Fines (Fe 64%) |
| July’15 | 2,590 | 3,840 | 2,950 | 1,660 |
| June’15 | 2,690 | 3,840 | 3,050 | 1,960 |
| May’15 | 2,690 | 3,840 | 3,050 | 1,960 |
| April’15* | 2,690 | 3,840 | 3,050 | 1,960 |
| April’15 | 2,860 | 4,040 | 3,250 | 2,460 |
Prices in INR/MT
*Prices effective from 18-30 Apr’15
Royalty@15% and other taxes extra
Source: SteelMint Research
To find out more about the impact of MMDRA on Indian mining industry and NMDC’s supply of the key raw material in domestic market, join us at India’s largest business conference on Iron ore, Pellet & DRI to be held in Kolkata on 13 & 14 August 2015 at Hyatt Regency. The summit is expected to be attended by 250+ companies from across the world. Register Now
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- What will be the global iron ore prices, demand & supply scenario?
- Will Iron ore prices in China revive soon?
- How will the new MMDR Bill (2015) change the dynamics of the Indian mining industry?
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- What are NMDC’s production growth plans and supply in domestic market?
- Will Indian steel makers continue to import in FY16?
- What is the potential for Indian Pellet in Iran?
- How will coal block & linkage auctions impact DRI industry in India?
- Will Indian DRI dependence increase on South African and Australian Coal?
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