MSTC (Metal & Scrap Trading Corporation Ltd) declared E-Auction results, which were conducted for various mines and stockyards in Karnataka on 17th and 18th of September'13.
Total Iron ore offered for sale was 1.28MnT out of which bidding done on only 0.60MnT of Iron ore i.e.46.87%.
Total number of bids which came for 17th Auction was 9 out of which number of bidders and winners were same i.e. 6. On 18th two Auctions were held, where in 1st auction total number of bids were 658 in which numbers of bidders were 18 and winners 12. Whereas in 2nd Auction number of bids which came were 98 out of which number of bidders were 5 and winners were 3.
September 17th auction:
ROM booking price was increased by 0.18% against the floor price. Whereas Iron ore lumps was sold on floor price.
Detail of quantity: 17.09.13
Iron ore Lumps 12,000 MT
ROM 260,000 MT
Overall percentage increase in booking price was 0.08%. In Auction main bidders for Iron ore were JSW Steel ltd and BMM Ispat ltd. JSW purchased 156,000MT of Iron ore and BMM Ispat ltd purchased 32,000MT of Iron ore.
Average ROM price for grade Fe57% in auction was INR 1990.
September 18th auction:
In Auction1, Iron ore fines price were increased by 25.49%, Rom prices increased by 33.14% whereas no change in Iron ore lumps prices.
In Auction 2 total quantity sold 40,000MT in which Rom prices were increased by 49%, Iron ore fines prices increased by 9.7% and Iron ore lumps were sold on floor price.
Detail of quantity Auction 1: 18.09.13
Iron ore lumps 8,000MT
ROM 208,000 MT
Iron ore fines 76,000MT
Detail of quantity Auction 2: 18.09.13
Iron ore Lumps 28,000 MT
ROM 4,000 MT
Iron ore fines 8,000MT
Overall increase in booking price in Auction 1 was 23% and Auction 2 was 3.91%. On 18th Auction main bidder for Iron ore was JSW Steel ltd, BMM Ispat ltd and KEJ Minerals pvt ltd. JSW Steel purchased 216,000MT of Iron ore, BMM Ispat ltd purchased 36,000MT of Iron ore whereas KEJ Minerals pvt ltd purchased 20,000MT of Iron ore
Average price for grade Fe61% Iron ore fines was INR 2804 and Average price for ROM grade Fe54% was INR 1960.
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