Goan govt. organised 23rd iron ore e-auction held on 27 May’20 for quantity of about 2.49 mn t. The auction received bids for only 7% (i.e 0.17 mn t) of total offered quantity and remaining 2.32 mn t was unsold. Majority of the quantity put under auction was of low-grade with the highest grade (as per DMG analysis) reaching Fe 59.22%.Out of the total offered quantity, 1.81 mn t was ROM with grade ranging from Fe 27.6-57.74%, 0.6 mn t was fines having Fe content 18.6-59.22% and 0.07 mn t was lump ranging from Fe 38.94-53.8%.
Dull response of auction was primarily due to upcoming monsoon season which would make transportation difficult in addition to and low grade of ore.
Emco Goa Pvt Ltd was the largest supplier at 62,560 t followed by Velingkar Brothers at 44,260 t and Timblo Enterprises at 19,650t.
Majority of lots fetched flat bids
The base price of material offered was in the range from INR 350- 600/t. The bid prices for the material stood at only INR 350/t and INR 500/t. A total of 26,040 t of fines, 12,650t of lumps and 129,660t of ROM ranging from 33.67%- 51.93% were sold at INR 350/t. A total of 5,630t of fines (Fe 49.94% and 50.84%) was sold at INR 500/t.
Sesa Sterlite Limited remained the largest bidder
Sesa Sterlite Limited remained the largest bidder in the auction at 0.14 mn t with around 0.11 mn t of ROM, 0.02 mn t fines and 0.01 MnT lumps. Shirodkar and Company stood second largest bidder at 19,280 t followed by VM Salgaocar and Brother Private Limited at 8,190t, Seabird Marine Services at 8,000t and Nathumal Eco Minerals Private Limited at 600t.
| Company | Fines | Lumps | ROM | Grand Total |
| Sesa Sterlite Limited Iron Ore Goa | 18,440 | 12,650 | 106,820 | 137,910 |
| Shirodkar and Company | – | – | 19,280 | 19,280 |
| V M Salgaocar and Brother Private Limited | 7,630 | – | 560 | 8,190 |
| Seabird Marine Services | 5,000 | – | 3,000 | 8,000 |
| Nathurmal Eco Minerals Private Limited | 600 | – | – | 600 |
| Grand Total | 31,670 | 12,650 | 129,660 | 173,980 |
Qty in t
Source: DMG
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