Highlights of 10th Goa Iron Ore E-auction

DMG, Govt. of Goa conducted its 10th iron ore e-auction yesterday (15 Sept’15) in which 178,610 MT iron ore was sold.

1.2 MnT iron ore was offered in Goa 10th iron ore e-auction held yesterday. Only 0.18 MnT (178,610 MT) was sold out of the total quantity. The material was offered through 59 proposed lots. The offer comprised of 1.12 MnT ROM, 0.1 MnT fines and 0.02 MnT lump.

Highlights

1. 103,230 MT fines was offered, out of which 42% of the fines (43,370 MT) was allotted. 1.12 MnT ROM was offered, out of which only 12% (135, 240 MT) was sold.
2. Entire quantity of lump offered (16,650 MT) remained unsold
3. Majority of the lots containing fines fetched higher bids (moved up by upto 20%). For instance bid prices for fines (Fe 61%) located at Surla jetty stood at INR 1,000/MT against its base price of INR 850/MT. Similarly, fines (Fe 62%) located at Codli mines, offered at base price of INR 550/MT, was allotted at INR 620-630/MT
4. Entire quantity of ROM sold was from Vagus jetty. Majority of the lots containing ROM received flat bids, except for the lot containing ROM (Fe 60%) for which the bid prices moved up by INR 120-130/MT and stood at INR 640-650/MT

Link to the sheet of Goa 10th iron ore e-auction results

Auction of 1.17 MnT iron ore scheduled on 22 Sept’15

DMG, Goa has scheduled 11th iron ore e-auction on 22 Sept’15. 1.17 MnT iron ore will be put under hammer in 53 lots. The offer comprises of 0.57 MnT fines, 0.55 MnT ROM 0.03 MnT lump and 0.02 MnT (either fines or lump). This will be the 4th e-auction for this month.

Link to the proposed lots for 11th iron ore e-auction