A couple of mines named Sesa Goa and MEL in Karnataka, offered 28,000 MT of iron ore ROM and 12,000 MT of iron ore fines altogether, through e-auction on March 27.
The bid price was a 1.76% increase over the floor price.
No. of bidders as well winners were 3 and no. of bids was 7.
From Sesa Goa mines
The total quantity of 24,000 MT of iron ore ROM with Fe% 57 that was offered, was sold out at Rs 1,720-1,730/MT.
Floor price was fixed at Rs 1,690/MT.
JSW purchased 20,000 MT at Rs 1,720/MT.
From MEL mines
Quantity that was offered:
16,000 MT of iron ore was offered, as mentioned below:
4,000 MT of iron ore ROM and 4,000 MT of iron ore fines.
From Narahari Mines, MEL offered 8,000 MT of iron ore fines.
It was able to make only with sales of 4,000 MT of fines with Fe% 57 at Rs 1,210/MT.
The floor price was fixed at Rs 1,200/MT.
There were no buyers for lumps from MEL mines.
Royalty 10%, VAT 5.5% (on auction price and royalty), FDT 12% are applicable.
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