A couple of A grade mines named B. Rudra Gouda and MEL, based in the state of Karnataka, will offer a total of 316,000 MT of their raw material through e-auction, on March 8.
The miners are free to decide the base price for themselves.
Quantity to be offered by:
B. Rudra Gouda:
Iron ore fines (Rs/UOM)
80,000 MT of Iron ore fines Fe% 57 at Rs 1,580
40,000 MT of Iron ore fines Fe% 58 at Rs 1,705
28,000 MT of Iron ore fines Fe% 63 at Rs 2680
Iron ore lumps:
80,000 MT of Fe% 59 at Rs 3,520
4,00 MT of Fe% 61 at Rs 3,620
80,000 MT of Fe% 59 at Rs 3,950
MEL:
Iron ore fines
4,000 MT of Fe% +53 at Rs 825
Royalty 10%, VAT 5.5% (on auction price and royalty), FDT 12% are applicable.
Previous to this, B Rudra Gouda and MEL were able to sell out only 25% of their raw material on February 22.
The base price fixed by the two was high and it was difficult for steel plants in Karnataka to purchase the expensive ore.
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