NMDC e-auctions pellets for the first time

NMDC e-auctions pellets for the first time

The base price of the pellets was around Rs.5219/MT (basic).

The Dollar Business Bureau

NMDC, India's single largest producer of iron-ore had for the first time put up iron-ore pellets for commercial sale on Nov 15. The sale was conducted via e-auction by NMDC.

The pellets which were manufactured at NMDC's Donimalai plant Bellary, ranging in size from 6-16mm were placed in 12 different lots of 1000 MT each. 

According to market sources, the auction received a good response with the base price of the pellets hovering around Rs.5219/MT (basic).

Market sources confirmed that parties outside the state of Karnataka showed a keen interest, as a result, the bids went up by Rs.50/MT and the entire quantity was sold.

Information on the same remains to be confirmed as the bid sheets have not been made public by NMDC.

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The Dollar Business Bureau - Nov 19, 2016 12:00 IST