Iron ore sales via Karnataka e-auctions fell drastically by 70% M-o-M from 2.6 MnT in Jan’15 to 0.8 MnT in Feb’15.
Iron ore e-auctions conducted by MSTC in Feb’15 received an extremely poor response. Out of the 5.2 MnT Iron ore offered, merely 0.8 MnT was sold, making it the lowest sales in this fiscal. NMDC sold 0.4 MnT and the remaining was sold by private mines via e-auctions in Feb’15.
Supplier-wise Allotted Quantity
|
Supplier |
Fines | Lump | Sub Grade Fines |
Grand Total |
| NMDC | 332,000 | 80,000 | – | 412,000 |
| RBSSN Sankalapuram Iron ore Mines | 40,000 | 28,000 | 44,000 | 112,000 |
| Vyasankere Iron Ore Mines | 80,000 | – | – | 80,000 |
| Shree Gavisiddeshwara Minerals | 32,000 | 8,000 | – | 40,000 |
| SMIORE | 8,000 | 24,000 | – | 32,000 |
| Others | 48,000 | 56,000 | – | 104,000 |
| Total | 540,000 | 196,000 | 44,000 | 780,000 |
Quantity in MT
Source: SteelMint Research
While NMDC’s price for lump (Fe 62%) was INR 3,130/MT and for fines (Fe 60%) was INR 2,300/MT, for private miners prices for fines (Fe 64%) were at INR 2,940/MT, lump (Fe 64%) at INR 4,110/MT and sub-grade fines (Fe 45%) at INR 200/MT.
The largest buyer was JSW Steel followed by R B Seth Shree Ram Narsingdas and BMM Ispat. Major buyer, JSW Steel also reduced its purchase from 1.5 MnT in Jan’15 to 0.3 MnT in Feb’15.
Top 5 Iron Ore Buyers in Feb’15
|
Company |
Fines | Lump | Sub Grade Fines |
Grand Total |
| JSW Steel | 276,000 | – | – | 276,000 |
| R B Seth Shree Ram Narasingdas | 28,000 | 20,000 | 44,000 | 92,000 |
| BMM Ispat | 64,000 | 8,000 | – | 72,000 |
| MSPL | 60,000 | – | – | 60,000 |
| Srikalahasthi Pipes | 28,000 | 16,000 | – | 44,000 |
| Others | 84,000 | 152,000 | – | 236,000 |
| Total | 540,000 | 196,000 | 44,000 | 780,000 |
Quantity in MT
Source: SteelMint Research
Note: Grade & prices are weighted average.
Result of e-auctions held on 19 Feb’15 has not been considered as the e-auction was cancelled.
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