NMDC Pellet Auction Fetches Weak Response

National Mineral Development Corporation (NMDC) was conducted an auction for 40,000 MT iron ore pellets from its Donimalai plant in Karnataka on 13 Oct'17.Pellets of grade Fe 64+/-0.5% will be offered in the e-auction.

As per the market sources it fetched weak response from the buyer. As per the sources, only 800 MT pellets were sold at base price INR 5461.

Prior to this, NMDC had conducted auction for 5,000 MT pellets from its Karnataka plant on 21 Aug'17.

NMDC has a pellet plant with an installed capacity of 1.2 MnT p.a. at Donimalai in Karnataka as a part of its beneficiation programmed. Apart from this, it has also set up a beneficiation plant of 1.8 MnT p.a. in Karnataka.