Karnataka iron ore auction received an overwhelming response, 93% material being sold out. JSW Steel remained the largest buyer.
The recent Karnataka iron ore e-auction received an overwhelming response. Total quantity of 0.37 MnT was offered by NMDC Donimalai Mines, of which 0.22 MnT was lump, 0.092 MnT fines and 0.048 MnT low grade fines .
Out of the total quantity offered, 0.34 MnT was sold. Aggressive bidding was seen in the e-auction conducted on 04 July’15. Floor & bid prices for lumps (Fe 63.5%) stood at INR 2,693/MT. Base & bid prices for low grade fines (Fe 59%) was INR 1,043/MT. Bids received for fines (Fe 61%) increased marginally and stood at INR 1,343/MT.
Previous e-auctions conducted in the month of June’15 remained cold as only 33% of the total quantity offered had been sold.
Bidder-wise Allotted Quantity
| Company | Fines | Low Grade Fines | Lump | Grand Total |
| JSW Steel | 28,000 | 188,000 | 216,000 | |
| Gerdau Steel India | 28,000 | – | 8,000 | 36,000 |
| JSW Steel Salem Works | – | 24,000 | 24,000 | |
| NMDC Limited | – | 24,000 | – | 24,000 |
| BMM Ispat | 20,000 | – | – | 20,000 |
| Srikalahasthi Pipes | 8,000 | 8,000 | 16,000 | |
| Sona Alloys | 8,000 | – | – | 8,000 |
Qty in MT
Source: Karnataka DMG
Note: Grade & prices are weighted average
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