Out of 5.84 MnT Iron ore offered, 1.50 MnT has been sold via Karnataka e-auctions in Apr’15.
In Apr’15, 5.84 MnT Iron ore was put under hammer by NMDC & private miners in Karnataka e-auctions. Out of which, 1.5 MnT was sold to the bidders. NMDC sold 0.86 MnT of the material while the remaining 0.64 MnT was sold by the private miners.
Base & bid prices for NMDC fines (Fe 60.5%) stood at INR 2,050/MT. While, for lump (Fe 62.6%) stood at INR 2,800/MT. Low grade ROM, offered by private mines received flat bids as both base & bid prices stood at INR 350/MT. Private Mines base & bid prices for lump (Fe 62.5%) stood at INR 2,700/MT. While, fines (Fe 59.7%) bid prices stood at INR 1,740/MT.
Prices of fines offered by private mines have fallen slightly against last month. For, instance, base & Bid prices for fines (Fe 60%) was at INR 1,800/MT in Mar’15. While, in Apr’15 the prices stood at INR 1,750/MT.
NMDC remains the largest supplier at 0.86 MnT. Sesa Sterlite which resumed Iron ore mining in Karnataka w.e.f 27 Feb, 2015 remained the 2nd largest supplier.
Supplier-wise Allotted Quantity
|
Supplier |
Material Type | Total Qty | ||
| Fines | Low-grade ROM |
Lump |
||
| NMDC | 500,000 | – | 364,000 | 864,000 |
| Sesa Sterlite | 224,000 | – | 32,000 | 256,000 |
| H G Rangangouda | – | 106,000 | 106,000 | |
| B Rudra Gouda | 60,000 | – | 32,000 | 92,000 |
| Chowgule & Company | 28,000 | – | 16,000 | 44,000 |
| Others | 84,000 | – | 56,000 | 140,000 |
| Total | 896,000 | 106,000 | 500,000 | 1,502,000 |
Qty in MT
Source: Karnataka DMG
Steel giant-JSW Steel remains the largest buyer at 0.97 MnT followed by Kej Minerals & BMM Ispat. In Mar’15, JSW Steel procured 1.12 MnT Iron ore from Karnataka. Purchases have fallen this month as the steel maker has resumed its purchases from NMDC (Chhattisgarh) after a period of 6 months.
Buyer-wise Allotted Qty
| Company | Fines | Low Grade ROM | Lumps |
Grand Total |
| JSW Steel | 640,000 | – | 332,000 | 972,000 |
| Kej Minerals | 4,000 | 106,000 | – | 110,000 |
| BMM Ispat | 88,000 | – | – | 88,000 |
| Gerdau Steel India | 36,000 | – | 4,000 | 40,000 |
| Srikalahasthi Pipes | 28,000 | – | 8,000 | 36,000 |
| Others | 100,000 | – | 156,000 | 256,000 |
| Total | 896,000 | 106,000 | 500,000 | 1,502,000 |
Qty in MT
Source: Karnataka DMG
Note: Results of e-auctions held on 29 Apr & 30 Apr’15 have not been considered as the results are still awaited
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