NMDC`s E-auction, increase of 1% in Iron Ore Lumps Price 

NMDC`s Donimalai and kumarswamy e-auction on 11^th of September in Karnataka received 286 bids for the purchase of Iron ore out of which number of Bidders are 13 and number of winner are 11.

The total Quantity of Iron ore offered for sale is about 224,000MT out of which 200,000MT was sold out.

Iron ore fines sold above the floor price. Average price for Iron ore fines for  Fe 61% is 2418 and Fe 60% 2540 whereas Iron ore lumps price increased by 1% in comparison to floor price.Average price for Iron ore lumps Fe 63 3552 and Fe 64 3661.

Details of quantity sold:

Iron ore lumps 164,000 MT

Iron ore Fines 60,000 MT

There is total increase of 7.97% in booking price of Iron ore prices against the floor price. The main bidder for the purchase of iron ore are JSW Steel Ltd, Sesa Goa Ltd. JSW Steel LtdPurchase 92000 MT of LUMPS and 48000MT of Fines. Sesa goa Ltd purchase 20000MT of Lumps and Sathavahana Ispat Ltd Purchase 8000MT of Fines