In 2nd Iron ore e-auction held by Goa’s Directorate of Mines & Geology (DMG) on 05 Mar’14, out of 1.2 MnT of Iron ore offered, around 1.1 MnT was sold out.
Goa’s 2nd Iron ore e-auction received a good response as out of 1.2 MnT Iron ore, 89.5% of the total quantity was sold by DMG. In 1st Iron ore e-auction, 93.9% of the total offered material was sold out.
Sudar Industries was the top buyer of Iron ore followed by Shree Durga Mining, Fomento Resource and others.
|
Bidder Names |
Total Quantity (MT) |
Cargo Type |
Allotted Quantity (MT) |
W.A. Grade |
W.A. Bid Prices |
W.A. Base Prices |
|
Sudar Industries |
2,84,951 |
Fines |
2,84,951 |
53 |
1,437 |
1,379 |
|
Shree Durga Mining |
2,51,308 |
Fines |
2,37,457 |
55 |
1,708 |
1,635 |
|
Lumps |
13,851 |
57 |
2,035 |
1,922 |
||
|
Fomento Resources |
1,61,369 |
Fines |
1,22,705 |
55 |
1,886 |
1,643 |
|
Lumps |
38,664 |
55 |
1,661 |
1,661 |
||
|
V M Salgaocar & Brother |
1,51,785 |
Fines |
1,51,785 |
51 |
1,298 |
1,001 |
|
Bhavani Minerals |
100,937 |
Fines |
81,832 |
48 |
873 |
580 |
|
Bagadiya Brothers Private |
65,000 |
Fines |
65,000 |
55 |
1,855 |
1,719 |
|
Agrawal Minerals Goa |
23,623 |
Fines |
23,623 |
58 |
2,335 |
2,080 |
|
Sesa Sterlite |
16,058 |
Fines |
16,058 |
58 |
2,316 |
2,125 |
|
Sri Santhipriya Minerals |
9,776 |
Fines |
9,776 |
52 |
1,380 |
1,120 |
|
Shraddha Ispat |
9,138 |
Lumps |
9,138 |
57 |
1,970 |
1,970 |
All prices in INR/MT; W.A – Weighted Average
The base price of Iron ore in this e-auction was higher than the previous e-auction. It is also high in comparison to international market Iron ore prices, which are at 9-months low.
Chinese spot Iron ore prices declined by USD 6/MT in last two weeks owing to low steel demand and increase in Iron ore stock at Chinese major port.
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