NMDC sold 25% of total lumps offered through April 4 e-auction 

NMDC offered iron ore through e-auctions in the state of Karnataka, from its Donimalai and Kumarswamy mines on April 4.

The total quantity of iron ore (including lumps and fines) which was offered from both of its mines was 436,000 MT.

From Donimalai:

Iron ore lumps 136,000 MT 

Iron ore fines 44,000 MT (+16,000 MT from PPT area)

From Kumarswamy:   

Iron ore calibrated lumps 200,000 MT

Iron ore fines 40,000 MT

Royalty 10%, VAT 5.5% (on auction price and royalty), FDT 12% are applicable.

Bid price was an increase of 3.22% over the floor price. No. of bids were 122, no. of bidders and winners were 9 and 8 in total.

Details of quantity sold out:

Lumps: 52,000 MT out of 136,000 MT 

Calibrated lumps: 32,000 MT out of 200,000 MT 

Fines: 92,000 MT out of 100,000 MT

Lumps: 

20,000 MT Fe% 63.5 (JSW) at Rs 4,152/MT

4,000 MT Fe% 63 at Rs 4,092/MT (Sesa Goa) though, 12,000 MT was offered

8,000 MT Fe% 62.7 at Rs 3,982/MT (Sesa Goa)

20,000 MT Fe% 61.2 at Rs 3,878/MT (JSW)

Fines:

20,000 MT Fe% 61 at Rs 2,605/MT (JSW)

Floor price was Rs 2,235/MT

20,000 MT Fe% 60.8 at Rs 2,603/MT (JSW)

Floor price was Rs 2,213/MT

4,000 MT Fe% 60.5 at Rs 2,559/MT (JSW)

Floor price was Rs 2,179/MT

8,000 MT Fe% 62.8 at Rs 2,463/MT though 16,000 MT was offered

20,000 MT Fe% 61 at Rs 2,065-2,075/MT

(JSW 16,000 MT at Rs 2,065/MT)

Floor price was Rs 2,035/MT and JSW had bid for 20,000 MT

20,000 MT Fe% 62 at Rs 2,160/MT (JSW) 

Calibrated lumps:

32,000 MT Fe% 64 at Rs 4,011/MT though 100,000 MT was offered

In the previous e-auction, which was held on March 26, NMDC was able to meet with only 6% of sales in lumps and the entire quantity of fines was sold out.

An NMDC official told SteelMint that buyers are preferring to use Pellet instead of lumps looking at the price difference between fines and lumps.