Iron ore e-auction results for NMDC’s Donimalai and Kumarswamy mines, held on 28 October in Karnataka, the total quantity of Iron ore offered for sale is about 308,000 MT out of which bid came only for 208,000 MT and actual quantity of Iron ore sold 160,000 MT.
The total number of Bid came 228 out of which number of bidders 8 and winners 7. Iron ore fines were sold above the floor price, fines price increased by almost 30% in 28th e-auction whereas Iron ore lumps sold on floor price and only 41% of total iron ore Lumps were sold out.
*Details of Quantity sold:
Iron ore lumps: 76,000 MT
Iron ore fines: 84,000 MT
Iron ore booking price was increased by 10% against the floor price in e-auction. The main bidders for Iron ore in e-auction are JSW Steel Ltd, Sona Alloys Pvt Ltd & BMM Ispat ltd.
JSW Steel purchase 72% of Iron ore out of 176,000 MT, BMM Ispat purchased 8,000 MT of fines and Sona Alloys purchased 20,000 MT of Lumps.
Total quantity of Iron ore fines offered were sold out and the main buyer was JSW Steel who purchased 76% of total Iron ore fines.
JSW Steel Ltd is the largest buyer of Iron ore in Q2 from Karnataka e-auction. the total quantity of Iron ore purchased by JSW is about 5.29 MnT.
*Correction
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