Goa’s first ever E-auction received good response from Indian traders. Steel Mills may participate in coming auctions.
Goa’s first e-auction of Iron ore following the ban on mining in September 2012, received a good response from Indian traders. But, surprisingly saw no participation from big steel companies. Out of 0.53 MnT of ore put up on Monday, almost entire quantity was sold out.
Radiant world, an Iron ore trader based in Mumbai, turned out to be the largest buyer of Goa Iron ore according to sources. It was allotted around 2,40,000 MT of cargo, which also included the largest lot of 1,40,000 MT Iron fines having Fe content 50.9%.
SteelMint assessed that Radiant was the largest buyer followed by Sesa Sterlite, Bagadiya Brothers, Timblo & Fermento. However, there has been no official announcement by the Goa Directorate Mines & Geology (DMG).
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Note: Estimated numbers in % collected from company and trade sources
After Supreme Court’s order, state will auction 15 MnT of Iron ore lying at different stockyards, mines head, jetties & Port. Auction will be conducted almost every week and will be done through MSTC.
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