Karnataka iron ore e-auction bid prices for high grade ore have witnessed a sharp rise in recent e-auction conducted on 12th Jun’20.
The prices of iron ore fines (Fe 65%) offered from Vyasankere mines fetched bids up by around INR 730/t to INR 3,380/t against the base price of INR 2,650/t in recent e-auction held on 12th June’2020. Prices mentioned are basic and royalty, bulk permit processing fee & GST extra. 68,000 MT fines was sold from three lots (Fe 65%) by Vyasankere mines, booked by MSPL. Also, one lot of 8000t high grade ore lumps was booked by Vedanta Ltd at INR 3,380/t (at base price).
The prices for high grade have increased amid tight availability of high grade ore, shared sources to SteelMint.
Lots of low grade fines (Fe 58.25%) offered from Vedanta fetched flat bids at INR 910/t against the set base price of INR 910/t. 132,000t fines was booked.
In yet another auction conducted on 10 Jun’20 for 910,051t offered, only 4000 t was high grade (Fe 66.93%) fines booked by Thakur industries at INR 2,177/t. The material was offered from Karnataka State Minerals Corporation Ltd while the remaining material offered was of low grade.
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