NMDC receives flat bids in recent Karnataka auction but entire quantity booked.
Yesterday, Karnataka DMG conducted e-auction for iron ore offered from NMDC’s Kumaraswamy mines. The offered quantity was around 421,000 MT comprising of fines & lumps. As per reports, entire quantity offered has been booked.
Company had kept floor prices unchanged for both fine and lump. However, the auction fetched mostly flat bids. Iron ore fines lots offered fetched flat bids while for lumps increased by INR 90-150/MT over base price.
Only one lot of Sponge grade iron ore lump (10-20mm) fetched bid higher by INR 700/MT over floor price.
Lot containing fines (Fe 63.6%) was sold at bid price of INR 2,371-2,381/MT (basic) and lump (Fe 64.2%) was allotted at INR 2,985/MT (basic). Prices mentioned are basic, GST & Bulk Processing fee extra.
JSW turns the largest buyer from the auction- JSW turned out to be the largest buyer from this auction and purchased total 336,000 MT both fines and lumps.
Leave a Reply