Monthly iron ore sales volume in Karnataka e-auctions have decreased sharply by 53% M-o-M in Apr’18. Total allotted quantity of iron ore stood at 1.3 MnT in Apr’18 compared to 2.77 MnT in Mar’18. Karnataka iron ore e-auction sales for the month of Apr’18 have hit nearly 2.5 years low.
After maintaining the same offers in beginning of Apr’18, NMDC slashed base prices in Karnataka e-auctions w.e.f 19 Apr’18. The miner reduced prices by INR 80-110/MT. For Apr’18 e-auction, base prices for NMDC Donimalai fines (Fe 60.2%) is reduced to INR 2,679/MT against 2,765/MT for previous month. The price for lump (Fe 62.2%) was decreased to 3,132/MT compared to previous price at INR 3,221/MT.
NMDC iron ore sales decreased significantly by 86% in Apr’18- NMDC’s iron ore sales decreased sharply by 86% M-o-M to 0.19 MnT in Apr’18 compared to 1.39 MnT in Mar’18. NMDC Kumarswamy recorded a decrease of 85% in its sales volume to 0.11 MnT in Apr’18 compared to 0.74 MnT in Mar’18 while sales from NMDC Donimalai mines has also decreased by 88% to 0.08 MnT in Apr’18 compared to 0.66 MnT in Mar’18.
| Company | Fines | Lumps | Tumbler Lump | Grand Total |
| JSW Steel Ltd | 450,000 | 157,992 | 12,000 | 619,992 |
| BMM Ispat | 155,000 | – | – | 155,000 |
| MSPL Ltd | 100,000 | – | – | 100,000 |
| Minera Steel And Power Private Limited | 40,000 | – | – | 40,000 |
| Kirloskar Ferrous Industries Limited | 16,000 | 20,000 | – | 36,000 |
| Others | 144,000 | 184,200 | 16,000 | 344,200 |
| Grand Total | 905,000 | 362,192 | 28,000 | 1,295,192 |
Source: Karnataka DMG, SteelMint Research
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