Iron ore e-auction in Karnataka held on 11 Jun’15 received a poor response with 70% of the offered quantity remaining unsold.
Recent iron ore e-auction conducted by MSTC in Karnataka on 11 Jun, 2015 received a poor response. 70% of the offered quantity remained unsold. Out of 0.36 MnT iron ore offered by private miners, 0.10 MnT iron ore has been allotted to the bidders.
Lump received flat bids. Lump (Fe 62.3%) was sold at INR 2,455/MT. Bid prices of fines stood slightly above the base prices. Fines (Fe 60.2%) was allotted at INR 1,462/MT against base price of INR 1,390/MT. (Grade & prices are weighted average)
Buyer-wise Allotted Quantity in E-auction held on 11 Jun’15
|
|
Fines | Lumps |
|
| JSW Steel | 20,000 | 8,000 | 28,000 |
| Kirloskar Ferrous Industries | 16,000 | 8,000 | 24,000 |
| Sathavahana Ispat | 12,000 | 4,000 | 16,000 |
| Others | 8,000 | 28,000 | 36,000 |
| Total | 56,000 | 48,000 | 104,000 |
Quantity in MT
Source: Karnataka DMG
Out of offered quantity of 1.4 MnT, 0.55 MnT iron ore has been sold via Karnataka e-auctions so far in Jun’15 (till e-auctions held on 11 Jun’15). Out of which NMDC has sold 0.28 MnT & share of private miners was 0.27 MnT.
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