- 5th Iron ore e-auction received moderate response
- About 50% of ore received bids, rest unsold
- There were no bidders for low grade ore; high grade fetched decent bids
Goan government has auctioned 1 MnT Iron ore through its 5th e-auction. While, the 2nd lot of 0.9 MnT will be put under hammer in tomorrow’s e-auction.
In the first half of Goa 5th Iron ore e-auction, held today, 1 MnT Iron ore was auctioned. Sources mentioned that bid prices remained at similar levels of those of base prices.
Looking at the price bids, it can be inferred that local steel makers have bought majority of the material and seems to be inclined towards high grade Iron ore. Exporters have not participated in the e-auction as at these bid prices, export parity is not possible.
” We would say, response to this auction has been poor compared to previous four auctions. Goan Iron ore is of low grade and meant for exports only. Global prices are struggling and the material is unviable to export from India.There are many lots which have been sold in previous auction, but not yet lifted due to extremely weak market,” said an Indian exporter who participated in the auction.
Goa 5th Iron Ore E-auction Details
|
Lot No. |
Qty Offered (MT) |
Grade |
Base Price |
Bid Price |
|
1 |
73,000 |
54.97 |
500 |
540 |
|
2 |
101,000 |
55.56 |
540 |
No Bid |
|
3 |
180,000 |
57.06 |
590 |
630 |
|
4 |
207,000 |
55.93 |
500 |
500 |
|
5 |
5,000 |
59.5 |
880 |
900 |
|
6 |
6,000 |
60 |
930 |
1,170 |
|
7 |
7,000 |
53 |
500 |
No Bid |
|
8 |
10,000 |
53 |
500 |
|
|
9 |
54,000 |
62 |
1,140 |
1,900 |
|
10 |
4,000 |
53 |
500 |
Lot Withdrawn |
|
11 |
10,000 |
61.5 |
1,090 |
1,450 |
|
12 |
22,000 |
61.6 |
900 |
1,230 |
|
13 |
322,000 |
51.5 |
500 |
No Bid |
Royalty & taxes extra
Base & Bid prices in INR/MT
Source: SteelMint Research
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