Metal Scrap Trade Corporation (MSTC), a Government of India Enterprise, sold 2.1 MnT Iron ore through e-auction held in Karnataka in which Iron ore sale was increased by 75% M-o-M.

JSW Steel was the main buyer for Iron ore in Dec’13 e-auction. The Company purchased 0.9 MnT of Iron ore in e-auction that’s an increase of 50% M-o-M.

In Dec 2013, average price of Fe 63 lumps was INR 3,962/MT and Fe 63 fines was INR 3,860/MT (basic).

Qty in ‘000 MT

Qty in ‘000 MT

Iron Ore Sale down by 31% in Q3 FY14

Iron ore sales in Karnataka e-auction was down by 32% to 5.6 MnT in Q3 FY14. Average Price of Iron ore fines for Fe 60 grade were INR 2,012/MT in July and INR 3,063/MT in month of December. So, the difference was increased by 79% from Jul’13-Dec’13. Owing to high demand of Fines and  limited supply, Fines prices increased in December.