NEWS
Iron Ore  

JSPL Bags 42,000 MT in Recent OMC Iron Ore E-auction

Odisha Mining Corporation (OMC) succeeded in drawing an encouraging response at its latest round of auctions of iron ore lumps on December 3, SteelMint learned from market participants.

OMC offered 345,000 tonnes of lumps sourced from its Gandhamardhan (15,000 MT Lumps and DR CLO 105,000 MT) Daitari (75,000 MT) and Khandadhar (150,000 MT) mines. Nearly 78 percent of the offered quantity was booked. The entire quantity of Koira and Daitari got booked.

Major buyers in OMC e-auction – JSPL was the largest buyer from Kurmitra mines about 42,000MT Lumps at INR 4,200/MT, Monnet Ispat 16,000 MT at INR 4,250/MT. Other buyers from OMC mines were Bhaskar steel 40,000 MT, Kalinga Sponge 15000 MT, Jai Sponge 15,000MT and Sunil Sponge 8,000 MT at INR 4,250/MT each.

OMC had cut base prices by INR 400/MT against the previous e-auction conducted on 03 Oct’18 for lumps.

News No: 2830
Date: 2018/12/07 - 01:57
News Source: SteelMint

Odisha Mining Corporation  Iron Ore  Daitari  Khandadhar 

Comments:

Leave a Comment:

   
   
   
 

Premium iron ore lump demand takes a hit in China

Seaborne lump prices have fallen sharply after hitting a peak in late January, as steel mills have stepped up purchases of non-premium medium-grade and low-grade lump cargoes and pellet as direct-charge feedstock for their blast furnaces.
 

Slab scarcity to push Brazilian steel prices up: CSN

Brazilian steel and iron ore producer Companhia Siderurgica Nacional (CSN) expects a 10-15pc increase in flat steel prices in March, as a result of higher slab costs owing to limited availability.
 

Railroad Project Kicks Off in Kerman

Construction of Sirjan-Kerman Railroad kicked off on Monday. The project will cost 889 billion rials ($7 million) and take 30 months to complete, the CEO of Golgohar Mining and Industrial Company, located in Sirjan, said.
 

Iron ore differentials narrow on supply pressure

Portside discounts for Fortescue Metals' 56.5pc Fe super-special fines (SSF) have dropped below 20pc to the Argus 62pc PCX portside index on 15 February, the narrowest in recent months, and may contract further as supply keeps high-grade prices under pressure.
 

Fire shuts down Vale’s Malaysia distribution center

Iron ore mining giant Vale (NYSE:VALE) issued a statement Friday advising that there was a fire in one of the transfer houses of the belt conveyor system at its distribution center in Malaysia.
 

Not so autonomous: Wifi outage results in driverless truck crash at Fortescue mine

Iron ore producer Fortescue Metals Group (ASX:FMG) revealed Friday that one of its massive driverless trucks collided with another at one of its Western Australia mines earlier this week. There were no injuries.
Upcoming Events
Publications
 Mines & Metals

Mine & Business Today

 Scrap & Recycling

Ahangan

Our partners