NMDC offered a total of 1.6 MnT Iron ore on 23 May’14 in Karnataka e-auction. As per the results declared today, 0.1 MnT Iron ore have been sold. The largest buyer was JSW Steels and purchased 72,000 MT Iron ore.
|
Iron Ore sold by NMDC on 23 May E-auction |
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|
Material |
Offered |
Total |
W.A. Grade % |
Allotted |
W.A. |
W.A. |
|
Lumps |
112,000 |
60,000 |
60 |
12,000 |
3,271 |
4,004 |
|
63 |
48,000 |
3,655 |
3,655 |
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|
Fines |
48,000 |
48,000 |
58 |
24,000 |
1,965 |
2,423 |
|
60 |
24,000 |
2,221 |
2,416 |
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|
Total |
160,000 |
108,000 |
|
108,000 |
|
|
Qty in MT
Prices in INR/MT
W.A. (Weighted Average)
It has been observed that buyers have preferred to purchase Iron ore from NMDC, rather than private miners. The prominent reason for this is, NMDC provides Iron ore at a lesser price in contrast to private miners.
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Buyers of Iron Ore in 23 May E-auction |
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|
Buyers |
Total |
Material |
Allotted |
W.A. |
W.A. |
W.A. |
|
JSW Steel |
72,000 |
Lumps |
40,000 |
63 |
3,655 |
3,655 |
|
Fines |
32,000 |
59 |
2,420 |
2,061 |
||
|
Kej Minerals |
8,000 |
Fines |
8,000 |
59 |
2,418 |
2,093 |
|
Jai Raj Ispat |
4,000 |
Lumps |
4,000 |
60 |
3,991 |
3,271 |
|
Minera Steel And Power |
4,000 |
Lumps |
4,000 |
60 |
4,001 |
3,271 |
|
Kalyani Steels |
4,000 |
Lumps |
4,000 |
63 |
3,655 |
3,655 |
|
Mukand |
4,000 |
Lumps |
4,000 |
63 |
3,655 |
3,655 |
|
BMM Ispat |
4,000 |
Fines |
4,000 |
60 |
2,421 |
2,221 |
|
Xindia Steels |
4,000 |
Fines |
4,000 |
60 |
2,421 |
2,221 |
|
Hindusthan Calcined Metals |
4,000 |
Lumps |
4,000 |
60 |
4,021 |
3,271 |
Qty in MT
Prices in INR/MT
W.A. (Weighted Average)
In comparison with the last e-auction conducted by NMDC held on 16 May’14 following variations can be figured out:
- Lumps floor price on 23 May for Fe 60 was at INR 3,271/MT; sold at INR 4,004/MT. On 16 May, floor price for Fe 62 was at INR 3,566/MT and bid price at INR 3,759/MT
- Fines floor price on 23 May for Fe 60 was at INR 2,221/MT ; bid price was at INR 2,416 whereas prices for same grade on 16 May e-auction was at INR 2,422/MT, Floor price was same
- JSW Steels purchased 72,000 MT Iron ore on 23 May and 124,000 MT on 16 May. JSW Purchased Fe 63 Lumps at INR 3,655 and Fe 59 Fines at INR 2,420. On 16th May e-auction JSW purchased Fe 63 Lumps at INR 3,724 and Fe 60 Fines at INR 2,448
- NMDC offered 232,000 MT & sold 156,000 MT on 16 May’14 e-auction; this time it offered 160,000 MT & sold 108,000 MT
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