Iron ore E-auction for various mines and stockyards located in the states of Karnataka on 06 Dec, 2013. Two auctions are going to take place on same day for various mines.
MSTC (Metal & Scrap Trading Corporation Limited) is conducting the bidding process. The total quantity of Iron ore offered for sale is 372,000 MT of which 67% material offered in auction are Lumps.
Auction 1 will commence at 13:00 HRS IST and conclude by 15:00 HRS IST.
Auction 2 will commence at 15:00 HRS IST and conclude by 17:00 HRS IST
The Inspection of material for both the auction will take place between 30.11.13 to 05.12.13
Total Iron ore offered for sale:
Iron ore Lumps: 252,000 MT
Iron ore fines: 120,000 MT
Royalty 10%, VAT 5.5% (on auction price and royalty) FDT 12% are applicable
The total quantity of Iron ore offered by other mines and stockyards in October E-auction is about 4.2 MnT out of which they sold about 1.5 MnT of Iron ore. JSW is the largest buyer of Iron ore, purchased 1 MnT of Iron ore from other mines. 74% of Material purchased by JSW Steel Ltd is ROM the average grade of ROM purchased in large quantity by JSW Steel was of Fe 40% grade.
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