MSTC offered Iron ore lumps as well as iron ore fines from B Rudra Gouda mines located in the state of Karnataka, through e-auction on April 22.
A total of 264,000 MT of iron ore was offered, which included 68,000 MT of fines and 196,000 MT of lumps.
Floor price for fines with Fe% 57.5 to 58% was raised by 7% to Rs 1,705/MT, which was at Rs 1,590/MT on Mar 21 e-auction; lumps price was reduced by 1.5% i.e. from Rs 3,520/MT to Rs 3,470/MT.
Details (grade, quantity and floor price-Rs/UOM) of the material offered:
Iron ore fines:
Fe% 57.5 to 58, 20,000 MT at Rs 1,705
Fe% 60 to 61, 16,000 MT at Rs 2,250
Fe% 62.5 to 63, 32,000 MT at Rs 2,650
Iron ore lumps:
Fe% 59 to 60 92,000 MT at Rs 3,470
Fe% 61.5 to 62.5 100,000 at Rs 3,890
Fe% 62.5 to 63 4,000 MT at Rs 3,990
Royalty 10%, VAT 5.5% (on auction price and royalty), FDT 12% are applicable.
The bid price was a 13.48% increase over the floor price. No. of bidders and winners 9 and 6; no. of bids 164.
Details of quantity sold out:
Fines: Was sold out in total, JSW procured 83% of total fines
20,000 MT Fe% 57.5-58 at Rs 2,365/MT Floor price Rs 1,705/MT (JSW)
16,000 MT Fe% 60-61 Floor price Rs 2,250/MT
JSW 12,000 MT at Rs 2,620/MT
Xindia 4,000 at Rs 2,610/MT
32,000 MT Fe% 62.5-63 Floor price Rs 2,650/MT
JSW 24,000 MT at Rs 3,030/MT, had bid for 28,000 MT
Xindia 4,000 MT at Rs 3,050/MT
SBQ 4,000 MT at Rs 3,040/MT
Iron ore lumps:
20,000 MT Fe% 61.5-62.5 at Rs 3,890/MT
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