National Mineral Development Corporation (NMDC) have rescheduled an e-auction of 80,000 MT iron ore lump, 180,000 MT iron ore fines and 80,000 MT ROM on 18 Mar’16. Due to lack of response from the bidders, the company had rescheduled the e-auction. Last month, the company had scheduled this auction on 16 Feb’16.
The material shall be delivered on FoR ex-mine basis. Material has been offered from Chhattisgarh region, namely Kirandul and Bacheli mines.
Product Description
| Product | Grade | Size (mm) | Qty (in MT) | Location |
| CLO | Fe 67% | 10-40 | 40,000 | Bacheli Mechanical Railway Siding |
| ROM | Fe 65.5% | 10-150 | 80,000 | Bacheli Mechanical Railway Siding |
| Lump | Fe 65.5% | 6-40 | 40,000 | Kirandul Mechanical Railway Siding |
| Fines | Fe 64% | (-)10 | 100,000 | Bacheli Mechanical Railway Siding |
| Fines | Fe 64% | (-)10 | 80,000 | Kirandul Mechanical Railway Siding |
Source: SteelMint Research
Interested buyers should give their quotations in INR/MT FoR. As per the orders of Government of Chhattisgarh, NMDC projects will be collecting Transit Fee @ INR 15/WMT on supplies of iron ore from the successful bidders and paying to C.G. Forest Division.
The transit fee will be in addition to royalty, DMF (District Mineral Fund), NMETF (National Mineral Exploration Trust Fund), sales tax /VAT, forest development tax, forest permit fee and labour welfare cess or any other statutory duties, levies and taxes etc applicable at the time of supplies or that may be introduced in future are payable by the successful bidders.
Last date for bid submission will be 18 Mar’16 at 12.00 hrs and the auction will be conducted on the same day at 13.00 hrs.
NMDC increases iron ore prices for Mar’16
NMDC has raised iron ore prices by INR 70-150/MT M-o-M for Mar’16.
| Size | Grade (Fe %) | Prices | Change |
| 10-40 mm, DR CLO | 67 | 2,250 | +70 |
| Baila lump , 6-40 mm | 65 | 1,950 | +150 |
| ROM, 10-150 mm | 65 | 1,750 | +140 |
| Blue Dust/ Fines | 64 | 1,710 | +150 |
Prices w.e.f 11 Mar’16 in INR/MT excluding DMF@30% of royalty
Royalty@15% and other taxes extra
Source: SteelMint Research
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