As per the results declared by MSTC of the e-auction held on 02 Jul, 2014, 0.67 MnT Iron ore was sold, which is the largest quantity sold in an e-auction since Q1 FY15.
Highlights of E-auction
- Out of the total quantity of Iron ore offered, 63% was sold
- Largest buyer was JSW Steel with 0.47 MnT followed by BMM Ispat with 0.10 MnT
- Iron ore lumps (Fe 60%) bid prices up by INR 470/MT in comparison with Jun’14 e-auctions
- Iron ore fines (Fe 63%) bid prices remain unchanged at INR 3,370/MT
664,000 MT Iron Ore offered in Karnataka E-auction
|
Material Type |
Offered Qty |
Allotted Qty |
|
Fines |
852,000 |
632,000 |
|
Lumps |
208,000 |
32,000 |
|
Total |
1,060 ,000 |
664,000 |
Qty in MT
Source: SteelMint Research
Iron Ore Buyers in 02 Jul, 2014 Karnataka E-auction
|
Buyers |
Cargo Type |
Alloted Quantity (MT) |
W.A. Grade (%) |
W.A Floor Price |
W.A Bid Price |
|
JSW Steel |
Fines |
464,000 |
57 |
1,605 |
1,605 |
|
Lumps |
12,000 |
60 |
3,717 |
3,780 |
|
|
BMM Ispat |
Fines |
100,000 |
56 |
1,290 |
1,290 |
|
Janki Corp |
Fines |
48,000 |
56 |
1,350 |
1,350 |
|
Xindia Steels |
Fines |
12,000 |
63 |
3,433 |
3,433 |
|
Minera Steel &Power |
Lumps |
8,000 |
60 |
3,738 |
4,018 |
Qty in MT; Basic prices in INR/MT
W.A: Weighted Average
Source: SteelMint Research
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