MSTC conducts Iron ore e-auction in Karnataka on behalf of various mines & stockyards. 1.8 MnT (up by 16% M-o-M) of Iron ore was sold in Apr’14 e-auction. Iron ore sales in Karnataka increased from 1.5 MnT in Mar’14 to 1.8 MnT in Apr’14.
In FY14, total 29.2 MnT Iron ore was sold through Karnataka e-auction. JSW had purchased 17.1 MnT Iron ore in FY14.
JSW was the biggest buyer of Iron ore with 1 MnT total purchase in Apr’14. JSW’s Iron ore purchase from Karnataka e-auction shows increase of 35% in April over last month.
Top 5 Buyers of Iron Ore in Apr’14
|
Iron Ore Sales Up by 16% M-o-M in Apr’14 |
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|
Company |
Fines |
Lumps |
ROM |
Total |
|
JSW Steel |
756,000 |
256,000 |
– |
1,012,000 |
|
BMM Ispat |
132,000 |
– |
– |
132,000 |
|
Janki Corp |
96,000 |
– |
12,000 |
108,000 |
|
Sesa Sterlite |
20,000 |
40,000 |
– |
60,000 |
|
Xindia Steels |
56,000 |
– |
– |
56,000 |
Qty in MT Source: SteelMint Research
|
1.8 MnT Iron Ore sold in Apr’14 E-auction |
||
|
Mines |
Bid Qty |
Allotted Qty |
|
NMDC |
936,000 |
836,000 |
|
Other Mines & Stockyards |
1,015,000 |
931,000 |
|
Total |
1,951,000 |
1,767,000 |
Qty in MT Source: SteelMint Research
|
NMDC Donimalai & Kumarswamy Mines |
||
|
Material type |
Bid Qty |
Allotted Qty |
|
Fines |
580,000 |
488,000 |
|
Lumps |
356,000 |
348,000 |
|
Total |
936,000 |
836,000 |
Qty in MT Source: SteelMint Research
Iron ore fines prices in Karnataka e-auction for Fe 58% decreased by INR 200/MT (fell by 10% over last month) to INR 1,950/MT (basic) in Apr’14. Iron ore Lumps prices for Fe 62% was at INR 3,990/MT and ROM for Fe 61% at INR 2,716/MT. Grade & bid prices are weighted average.
Iron ore fines prices decreased owing to increase in buying of Pellet as Pellet prices were stable.
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