NMDC and private miners aggressively offered their material in Karnataka e-auctions conducted in the month of Nov’15. Total 2.38 MnT iron ore was allotted from the auctions against 2.15 MnT in Oct’15.
Private miners sold 1.32 MnT (1,140,000 MT fines & 188,000 MT lumps ) and NMDC sold 1.06 MnT (612,000 MT fines & 449,000 MT lumps), out of the total allotted quantity by NMDC i.e. 1.06 MnT (NMDC’s Donimalai sold 600,000 MT iron ore and Kumarswamy sold 461,000 MT).
Majority of lots received flat bids in Nov’15
Although the bids received in the Karnataka e-auctions conducted in the month of Nov’15 remained flat, base price of the material offered in the e-auction was itself lesser than that of the base prices of the material offered in Oct’15.
NMDC: Bids received were flat for NMDC’s lumps. Base and bid prices for lumps (Fe 62.2) offered by NMDC stood at INR 1,975/MT. Similarly, base and bid prices for fines (Fe 60.3) were in the range of INR 1,037-1,035/MT.
Private miners: Base and bid prices for lumps (Fe 60.4) were in the range of INR 1,684-1,700/MT. Base and bid prices for fines (Fe 59.7) were in the range of INR 865-873/MT.
Note: Prices mentioned above are basic excluding 15% royalty and 12% forest development tax.
Supplier-wise Allotted Quantity in Nov’15
| Supplier | Fines | Lumps | Grand Total |
| NMDC | 612,000 | 449,000 | 1,061,000 |
| Private Miners | 1,140,000 | 188,000 | 1,328,000 |
| Grand Total | 1,752,000 | 637,000 | 2,389,000 |
Quantity in MT
Source: Karnataka DMG
JSW Steel, procured 1.82 MnT iron ore (432,000 MT lumps and 1,388,000 MT fines) from Karnataka’s e-auctions conducted in the month of Nov’15. The company procured 828,000 MT iron from NMDC ( 364,000 MT from Kumarswamy & 528,000 MT from Donimalai mines) and 948,000 MT from private miners in Nov’15.
Bidder-wise Allotted Quantity in Nov’15
| Company | Fines | Lumps | Grand Total |
| JSW Steel | 1,388,000 | 452,000 | 1,840,000 |
| BMM Ispat | 140,000 | – | 140,000 |
| Janki Corp | 56,000 | – | 56,000 |
| Others | 168,000 | 185,000 | 373,000 |
| Grand Total | 1,752,000 | 637,000 | 2,389,000 |
Quantity in MT
Source: Karnataka DMG
Note: Grade & prices mentioned above are weighted average.
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