NMDC sold 73,100 mt of iron ore at its Chhattisgarh auctions held on 16 July.
At Bacheli, 21,500 mt of DR CLO (10-40 mm, Fe 67%) was booked at INR 6,510/mt (FOR) against a base price of INR 5,900/mt, reflecting a premium of INR 610/mt. However, the entire 76,200 mt of iron ore fines offered at INR 3,790/mt remained unsold.
At Kirandul, 51,600 mt of Fe 64% fines (FOR) was sold at the base price of INR 4,740/mt, while 20,000 mt of FOT fines remained unsold. Prices exclude royalty, DMF and NMET.
The auction comes after NMDC reduced its list prices on 10 July, cutting prices by INR 150-500/mt across grades. The revised prices appear to have supported demand for lump ore, while iron ore fines also see some buying interest by the Odisha-based plants
Meanwhile, pellet manufacturers in Raipur increased offers for Fe 62.5/63% pellets by INR 300/mt to INR 9,600-9,700/mt ex-works, marking the third price increase in July and taking cumulative hikes to INR 600-700/mt. The increase was driven by improved demand from sponge iron producers and temporary supply tightness following production disruptions at multiple pellet plants.
Source: BigMint
