Goa 11th iron ore auction fetched comparatively better response than other recently conducted auctions with 38% (417,310 MT) of the offered quantity being sold.
DMG, Govt. of Goa conducted its 11th iron ore e-auction yesterday (22 Sept’15) in which 417,310 MT iron ore was sold out of the offered quantity of 1.12 MnT. The offer comprised of 0.52 MnT fines, 0.56 MnT ROM 0.02 MnT lump and 0.02 MnT (either fines or lump).
Key aspects of 11th e-auction
- About 77% of fines offered in the e-auction was sold. Except four lots all the lots were sold at base price. Lot containing fines (Fe 64%) from Codli Mine fetched bids at INR 890/MT against base price of INR 600/MT. Thus, it received bids about 50% higher than base price
- Majority of the lots containing ROM remained unsold. Only 500 MT of ROM (Fe 62%) from Codli Mines was sold at base price of INR 500/MT
- Lump fetched flat bids. 17,020 MT lump (Fe 60%) from Bondara Advona Codli received flat bids at INR 550/MT
- Lots contaning high grade ore attracted bidders. Around 90% of the allotted quantity belonged to Codli Mine
Link to the sheet of Goa 11th iron ore e-auction results
Auction of 1.53 MnT iron ore scheduled on 29 Sept’15
DMG, Goa has scheduled 12th iron ore e-auction on 29 Sept’15. 1.53 MnT iron ore will be put under hammer in 53 lots. The offer comprises of 1.34 MnT ROM, 0.16 MnT fines and 0.03 MnT lump.
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