MSTC conducts Iron ore e-auction in Karnataka on behalf of various mines & stockyards. 1.79 MnT (up by 1.3% M-o-M) of Iron ore was sold in May’14 e-auction.
Iron ore fines bid prices in Karnataka’s e-auction by NMDC for Fe 60% increased by INR 53/MT to INR 2,325/MT (basic) in May, 2014. Iron ore lumps bid prices for Fe 63% witnessed a drop of INR 188/MT and was at INR 3,655/MT. Grade & bid prices are weighted average.
Private mines bid & floor prices for Iron ore fines (Fe 63%) remained unchanged in May’14 at INR 3,500/MT. Also, the Iron ore lumps (Fe 64%) bid prices reduced from INR 4,650/MT to INR 4,211/MT. Grade & bid prices are weighted average.
- Iron ore lumps sales increased by 24% (M-o-M) and fines sales declined by 14% (M-o-M)
- Iron ore lumps sales upsurge on increase in purchase of lumps by JSW Steel (i.e. by 56%)
- In May’14, largest buyer was JSW Steel with purchase quantity of 1 MnT (54.7% of the total allotted quantity)
|
Karnataka Iron Ore E-auction in May’14 |
||
|
Mines |
Bid Qty |
Allotted Qty |
|
NMDC |
900,000 |
836,000 |
|
Other Mines & Stock Yards |
1,030,000 |
954,000 |
|
Total |
1,930,000 |
1,790,000 |
Qty in MT
Source: SteelMint Research
|
NMDC Donimalai & Kumarswamy Mines |
||
|
Material Type |
Bid Qty |
Allotted Qty |
|
Fines |
508,000 |
456,000 |
|
Lumps |
392,000 |
380,000 |
|
Total |
900,000 |
836,000 |
Qty in MT
Source: SteelMint Research
Top 5 Buyers of Iron Ore in May’14, who accounted for 70% of Total Purchase
|
Company |
Fines |
Lumps |
ROM |
Total |
|
JSW Steel |
640,000 |
336,000 |
4,000 |
980,000 |
|
SLV Steels & Alloys |
4,000 |
– |
110,000 |
114,000 |
|
MSPL |
72,000 |
– |
– |
72,000 |
|
Mukand |
24,000 |
24,000 |
– |
48,000 |
|
Sesa Sterlite |
32,000 |
12,000 |
– |
44,000 |
Qty in MT
Source: SteelMint Research
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