- 2.63 MnT iron ore was sold via Jun’16 Karnataka e-auctions
- NMDC sold 1.02 MnT iron ore while rest was sold by private miners
- JSW Steel’s iron ore purchases from Karnataka up by 23% M-o-M
The month of Jun’16 noticed rigorous number of Karnataka e-auctions. Monthly iron ore sales volume moved up by 42% M-o-M in Jun’16. 2.63 MnT iron ore was allotted in Jun’16 against 1.85 MnT in May’16.
NMDC sold 1.02 MnT iron ore in Jun’16 (up by 20% M-o-M) and private miners sold 1.61 MnT iron ore (up by 61% M-o-M).
Buyer-wise allotted quantity in Jun’16 Karnataka e-auctions –
|
Company |
Fines | Low Grade Fines | Lumps | ROM | Sub Grade ROM |
Total |
| JSW Steel | 1,032,000 | – | 554,000 | 36,000 | 1,622,000 | |
| Thakur Industries | 20,000 | – | 4,000 | 36,000 | 57,000 | 117,000 |
| BMM Ispat | 104,000 | – | – | 4,000 | – | 108,000 |
| Gerdau Steel India | 40,000 | – | 64,000 | – | – | 104,000 |
| MSPL | 68,000 | – | – | – | – | 68,000 |
| Others | 192,000 | 36,000 | 363,000 | 21,500 | – | 612,500 |
| Total | 1,456,000 | 36,000 | 985,000 | 97,500 | 57,000 | 2,631,500 |
Qty in MT
Source: Karnataka DMG
Highlights of Jun’16 Karnataka iron ore e-auctions –
- JSW Steel procured 62% of the total allotted quantity and continues to remain the largest buyer. Its purchase from Karnataka e-auctions has gone up by 23% M-o-M from 1.32 MnT in May’16 to 1.62 MnT in Jun’16
- NMDC procured 36,000 MT low grade fines (Fe 58.5%) in Jun’16. It seems that it will soon start commercial pellet production at its 1.2 MnT pa pellet plant in Karnataka
- SAIL (VISL) procured 24,000 MT lump via Jun’16 e-auctions
- NMDC’s base prices remained unchanged on monthly premises. Base prices for its Donimalai mines were as follows: lump (Fe 62.5%) – INR 1,953/MT and fines (Fe 60.2%) – INR 1,650/MT. For Kumaraswamy mines, base prices were as follows: fines (Fe 57.1%) was at INR 1,185/MT and for lump (Fe 63.5%) it was at INR 1,839/MT. Majority of lots were sold at base price
- Mysore Minerals’ base prices moved up by about INR 80/MT, M-o-M. Base prices for fines (Fe 61.2%) was at INR 1,644/MT and for lump (Fe 56.4%) prices stood INR 1,336/MT
- Private miners base price were as follows: Base prices for fines (Fe 65%) offered by Vyasankere mines remained at INR 2,025-2,125/MT (basic) and for lump (Fe 65%) are seen hovering in the range of INR 2,125-2,225/MT. Base prices of Sesa Sterlite’s lump (Fe 60%) stood at INR 1,331/MT (basic)
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