9th Goa iron ore e-auction fetched comparatively better response than the previous ones as 33% of the offered quantity was sold.
DMG, Government of Goa conducted 9th iron ore e-auction yesterday (10 Sept, 2015) which fetched fairly better response than previous couple of e-auctions. Out of 1.38 MnT iron ore offered, 0.46 MnT was sold.
Bidders looked interested in booking fines
Out of 0.3 MnT fines offered, around 0.28 MnT fines was sold. Remaining share of allotted quantity i.e. 0.18 MnT consisted of ROM. Lump failed to receive bids.
Sources mentioned that majority of the quantity (0.22 MnT) was bought by VM Salgaonkar. Another major bidder was Chowgule Industries at 0.15 MnT, followed by Bagadiya Brothers and Sesa Goa.
Bidder-wise allotted quantity
|
Bidders |
Allotted Qty | ||
| Fines | ROM |
|
|
| V M Salgaonkar | 215,460 | – | 215,460 |
| Chowgule Industries | – | 154,600 | 154,600 |
| Bagadiya Brothers | 67,290 | – | 67,290 |
| Sesa Goa | – | 22,510 | 22,510 |
| Total | 282,750 | 177,110 | 459,860 |
Provisional data
Qty in MT
Source: SteelMint Research
Majority of lots fetched flat bids
Lots containing fines were sold at base price except the lot (fines Fe 62% located at Vagus jetty) procured by VM Salgaonkar was allotted at INR 1,100/MT against its base price of INR 800/MT.
Some of the lots containing ROM received higher bids. Bids moved up by INR 210-260/MT. For instance, ROM (Fe 61-63%) located at Costi Mines was base priced at INR 500/MT but was sold at INR 760/MT.
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