NMDC’s 10 advance e-auctions held on 10 Dec, 2013 gets an overwhelmed response by the bidders. Of a total 1,695 bids were made of which 7 won.
A total of 360,000 MT, Iron ore Lumps and Fines were sold on ‘above the floor price’ in e-auction. There was an overall increase of 37% in booking price of Iron ore against the floor price. 78% of Iron ore was purchased by JSW.
Details of Quantity sold:
Iron ore lumps: 144,000 MT
Iron ore fines: 216,000 MT
The average prices for Fe 60 grade Iron ore fines were around INR 4,105/MT i.e. an increase of 82% in Iron ore fines price. Iron ore lumps of Fe 62.5% grade was sold at around INR 3,965.5/MT, so Iron ore Lumps price were increased marginally by INR 0.5/MT
| Average Iron Ore fines Prices in Advance E-auction | ||
| Month | Grade | INR/MT |
| August | 60.5 | 2,175 |
| September | 60.5 | 2,524 |
| October | 60.5 | 2,246 |
| November | 61 | 3,171 |
| December | 60 | 4,105 |
The main buyer for Iron ore in e-auction was JSW, Kalyani Gerdau Steels, Sesa Sterlite. JSW purchased 196,000 MT of Iron ore fines (90 Per cent of total sales) and 88,000 MT of Lumps (61 per cent of Total sales). Kalyani Gerdau steel purchased about 28,000 MT of Iron ore in which 57 per cent was Iron fines, Sesa Sterlite purchased about 16,000 MT of Iron ore lumps on floor price.
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