India: 0.3 MnT Iron Ore sold in last two Karnataka E-auctions

As per the results declared by MSTC, 0.3 MnT Iron ore was sold via e-auctions held on 20 & 22 Apr, 2015.

Iron ore e-auctions in Karnataka held on 20 & 22 Apr, 2015 received dull response. In total, 0.66 MnT Iron ore was offered by private miners, out of which 0.33 MnT has been allotted.

Highlights of Karnataka E-auction held on 20 Apr’15:

1. 0.25 MnT Iron ore was offered by the private miners, out of which 0.05 MnT Iron ore was sold
2. Major supplier was Shree Gavisiddeshwara Minerals
3. Iron ore fines fetched flat bids. Both floor & bid prices for fines (Fe 54.4%) stood at INR 910/MT
4. Bids for lump were higher over floor price by INR 160/MT. Bid prices for lump (Fe 62.5%) stood at INR 2,410/MT against floor price of INR 2,250/MT
5. Largest buyer was BMM Ispat at 0.03 MnT

Highlights of Karnataka E-auction held on 22 Apr’15:

1. Out of offered quantity of 0.41 MnT, 0.28 MnT Iron ore was sold
2. Major suppliers was Sesa Sterlite
3. Bid prices for fines (Fe 60.2%) stood at INR 1,100/MT and for lump (Fe 63%) was at INR 2,500/MT
4. Largest buyer was JSW Steel at 0.18 MnT

Note: Grade & prices are weighted average