MSTC has declared the results of NMDC Iron ore e-auction conducted on 27 Jun, 2014. As per the results, the total quantity offered was 0.17 MnT, out of which 0.05 MnT was sold.
“Iron ore lumps attracted less buyers in Karnataka e-auction because of lack in supervisory control over Iron ore grade offered. Also, requirement level restrained the buyers from purchasing lumps in e-auction. Since our requirement for Iron ore lumps was less, therefore we have purchased it in limited quantity.” – stated an official of the participating company.
Key Facts of NMDC’s E-auction held on 27 Jun, 2014
- JSW Steel was the largest buyer and purchased 24,000 MT followed by BMM Ispat at 12,000 MT
- In comparison with previous NMDC’s e-auction, bid prices of Iron ore lumps (Fe 62%) have fallen by INR 90/MT and stood at INR 3,916/MT (basic)
- Bid prices for Iron ore fines (Fe 60%) remain unchanged since one month and stood at around INR 2,434/MT (basic)
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48,000 MT Iron Ore sold in Karnataka E-auction |
||
|
Material Type |
Offered Qty |
Allotted Qty |
|
Fines |
56,000 |
36,000 |
|
Lumps |
112,000 |
12,000 |
|
Total |
168,000 |
48,000 |
Qty in MT
Source: SteelMint Research
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Iron Ore Buyers in 27 June, 2014 E-auction |
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|
Buyers |
Allotted Qty |
Cargo Type |
W.A. Grade (in %) |
W.A. Floor Price |
W.A. Bid Price |
|
JSW Steel |
24,000 |
Fines |
60 |
2,428 |
2,438 |
|
BMM Ispat |
12,000 |
Fines |
60 |
2,428 |
2,428 |
|
Sona Alloys |
4,000 |
Lumps |
62 |
3,786 |
3,916 |
|
Jai Raj Ispat |
4,000 |
Lumps |
62 |
3,786 |
3,916 |
|
Hindusthan Calcined |
4,000 |
Lumps |
62 |
3,786 |
3,916 |
Qty in MT
Basic prices in INR/MT
W.A. (Weighted Average)
Source: SteelMint Research
*Note: Bid & floor prices are weighted average; prices are basic
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