This month witnessed two iron ore e-auctions in the state of Goa. 3.7 MnT iron ore was offered combiningly via two auctions out of which 35% (1.29 MnT) was sold. E-auctions were conducted on 04 & 10 Oct’16.
The total offered quantity of 3.7 MnT comprised of 2.71 MnT was ROM, 0.77 MnT was fines, 0.15 MnT was lump and 0.07 MnT was fines/lump. ROM offered had iron ore content ranging from Fe 27.6-62%, Fines- Fe 44-62% and lump – Fe 43-62%. Base price for both the the e-auction remained same at INR 500/MT across all material types & grades.
E-auction received good participation from exporters. Vedanta remains the largest bidder at 0.68 MnT followed by Kalinga Allied Industries (0.33 MnT).
Bidder-wise details in Oct’16 e-auctions
|
Bidder name |
Fines | Fines/Lump | Lump | ROM |
Grand Total |
| Vedanta | 1,930 | – | 18,880 | 658,880 | 679,690 |
| Kalinga Allied Industries | 175,890 | 73,090 | 28,560 | 56,110 | 333,650 |
| Minescrape & Kadar Ores | 77,630 | – | 2,320 | – | 79,950 |
| Sri Sri Paramhansa Yogananda Export | – | – | 11,080 | 68,440 | 79,520 |
| Bagadiya Brothers | 12,090 | – | 3,680 | 47,020 | 62,790 |
| Kai International | 26,170 | 9,660 | 35,830 | ||
| V M Salgaocar and Brother | – | — | – | 16,000 | 16,000 |
| Amit Earthmovers | – | – | – | 8,900 | 8,900 |
| AS Exports and Imports | 1,500 | 1,500 | |||
| Blueglobe exports | 100 | – | – | – | 100 |
| Total | 293,810 | 73,090 | 66,020 | 865,010 | 1,297,930 |
Qty in MT
Source: SteelMint Research, Goa DMG
Highlights:
In the e-auction conducted on 04 Oct’16 majority of lots received flat bids except few lots. Lot of ROM (Fe 62.95%) located at Vagus jetty fetched bids at INR 1,420-1,430/MT. Another lot containing ROM (Fe 60.7%) located at Sircaim Jetty which fetched bids at INR 620/MT. Lots containing fines (Fe 55-57.7%) located at Surla jetty received bids at INR 720/MT.
In the e-auction held on 10 Oct’16, all the bids received were close to base price except few lots. Lump (Fe 57.08%) located at Advapal Mine received bid at INR 820/MT.
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