Department of Mines & Geology (DMG), Government of Goa conducted 18th iron ore e-auction on 22 Nov’16. Total quantity auctioned was 2.04 MnT. Out of the total quantity auctioned, 1.68 MnT was ROM, 0.28 MnT was fines, 0.07 MnT was lump and a single lot of 0.01 MnT of fines/lump. Base prices remained unchanged at INR 500/MT for all material type across all grades.
SteelMint reported earlier that the e-auction fetched poor response with nearly 25% of the material getting sold and lots containing high grade ore fetched higher bids. According to the recent data released by Goa DMG, 0.59 MnT iron ore was sold.
Highlights of 18th Goa iron ore e-auction:
1. 28% (0.47 MnT) of the ROM offered was sold. Some lots received flat bids while for others bids went up in the range of INR 10-1,100/MT than base price. Lots with greater Fe % content fetched higher bids.
2. Lot containing ROM (Fe 62.66%) located at SFI Cuddegal plant received bids 220% higher than base price at INR 1,600/MT. The lot was procured by Blueglobe Exports.
3. 25% (0.07 MnT) of fines offered was sold. Out of six lots of fines sold, two fetched high bids and remaining received flat bids at INR 500/MT. Fines (Fe 58.1%) located at SFI Cuddegal plant was sold to Blueglobe Exports at bid price of INR 1,420/MT. Another lot containing fines (Fe 54.17%) located at Muguli/Costi mine received highest bid at INR 840/MT and was allotted to Infrastil Global.
4. 67% (0.047 MnT) of lump offered was sold. Out of 11 lots of lump allotted, four received bids up by INR 20-420/MT and for remaining bids remained flat. Lot containing lump (Fe 65.7%) located at Keli mine received bids at INR 920/MT and was sold to Kai International.
5. Infrastil Global Impex remained the largest bidder at 0.19 MnT followed by Amit Earthmovers and Kai International.
Bidder-wise allotted quantity in the 18th e-auction –
|
Bidder name |
Fines | Lump | ROM |
Total |
| Infrastil Global Impex | 5,000 | 3,210 | 186,460 | 194,670 |
| Amit Earthmovers | 30,000 | – | 104,420 | 134,420 |
| Kai International | – | 27,500 | 72,530 | 100,030 |
| Bagadiya Brothers | 32,190 | 14,010 | 33,580 | 79,780 |
| Blueglobe exports | 3,230 | – | 72,750 | 75,980 |
| AS Exports & Imports | – | 2,770 | 4,000 | 6,770 |
| Total | 70,420 | 47,490 | 473,740 | 591,650 |
Qty in MT
Source: SteelMint Research, Goa DMG
So far Goa DMG has managed to sell only 10.6 MnT iron ore since e-auction procedure started in the state.
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