Out of 2 MnT iron ore offered only 0.16 MnT ore was sold. Bagadiya Brothers remains the largest bidder at 0.06 MnT.
As SteelMint had earlier reported that 17th Goa iron ore e-auction fetched very poor response. According to the recent data released by Goa DMG, the e-auction received very less participation from the bidders with majority of the material (92%) remaining unsold. Similar to previous e-auction, exporters were the major bidders.
Department of Mines & Geology (DMG), Government of Goa conducted 17th iron ore e-auction on 10 Oct’16. Total quantity auctioned was 2 MnT via 81 lots. Out of the total quantity to be auctioned, 1.54 MnT is ROM, 0.36 MnT is fines and 0.1 MnT is lump.
Grade of ROM offered varied from Fe 27.6-62.6%. Fines offered was from Fe 44-62%. Grade of lump offered in the e-auction varied from Fe 47.2-60.9%. DMG had kept base price unchanged for 17th e-auction at INR 500/MT for all material type offered across all grades.
Bidder-wise allotted quantity in 17th Goa iron ore e-auction
|
Bidder name |
Fines | Lump | ROM |
Total |
| Bagadiya Brothers | 12,090 | 3,680 | 42,020 | 57,790 |
| Sri Sri Paramhansa Yogananda Exports | – | 11,080 | 41,890 | 52,970 |
| Kai International | 26,170 | – | 9,960 | 36,130 |
| Kalinga Allied Industries | – | – | 8,980 | 8,980 |
| AS Exports and Imports | – | 1,500 | – | 1,500 |
| Total | 38,260 | 16,260 | 102,850 | 157,370 |
Qty in MT
Source: SteelMint Research, Goa DMG
Out of 1.54 MnT ROM offered, only 0.1 MnT (7%) was sold. All the bids received were close to base price and in the range of INR 500-510/MT.
0.04 MnT fines was sold out of offered quantity of 0.36 MnT. Bida received were in the range of INR 500-570/MT.
Out of 0.1 MnT lump offered, only 10% was sold. Majority of the lots sold received bids in the range of INR 500-540/MT except a lot containing lump (Fe 57.08%) located at Advapal Mine which received bid at INR 820/MT.
15.1 MnT iron ore which was mined prior to the imposition of mining ban imposed in the state long back in Oct’12, out of which Goa DMG has managed to sell only 10 MnT iron ore since e-auction procedure started in the state.
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