Offered quantity comprises of 2.04 MnT iron ore. Base prices remain flat at INR 500/MT for all material type across all grades.
Department of Mines & Geology (DMG), Government of Goa has put up lots for 18th iron ore e-auction. The auction is scheduled on 22 Nov’16.
Total quantity to be auctioned is 2.04 MnT via 78 lots. Out of the total quantity to be auctioned, 1.68 MnT is ROM, 0.28 MnT is fines, 0.07 MnT is lump and a single lot of 0.01 MnT of fines/lump.
Grade of ROM offered ranges from Fe 27.6-64.6%. Fines offered ranges from Fe 38.3-62%. Grade of lump offered in the e-auction varies from Fe 39.8-65.7%. Single lot of fines/lump offered is of grade – Fe 54.8%.
Out of 2.04 MnT iron ore that will be put under hammer, 0.34 MnT is from Vedanta’s Codli Mine.
Link to the base price for 18th iron ore e-auction
High global iron ore prices may attract good participation of exporters
Despite witnessing fall this week, global iron ore prices remain at higher levels. Fe 62% fines index is presently seen at USD 72.6/MT, CFR China. Price of fines (Fe 58/57%) of Indian origin have moved up by USD 8/MT W-o-W and are presently seen at USD 47/MT, FoB east coast India.
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