Steel makers based in the state of Karnataka will be offered a total of 3,76,000 MT of Iron ore by NMDC through e-auctions on the 5th of January, 2013, from its Donimalai and Kumarswamy mines.
The total quantity of 3,76,000 MT of iron ore includes:
Iron ore fines and iron ore lumps of 88,000 MT each and iron ore calibrated lumps of 2,00,000 MT
From Donimalai mines: 88,000 MT of iron ore lumps and 32,000 MT of iron ore fines
From Kumarswamy mines: 2,00,000 MT of iron ore calibrated lumps and 56,000 MT of iron ore fines
NMDC is to review iron ore prices for the month of January 2013 on the 2nd.
Market participants are hopeful that prices of the raw material might witness an upward movement, supported by rise in steel prices in the international market.
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