Goa 15th e-auction fetched poor response as out of 2.11 MnT iron ore offered nearly 30% quantity was sold.
Directorate of Mines & Geology (DMG), Govt. of Goa conducted e-auction for 2.11 MnT iron ore today (27 Apr’16). The offered quantity comprised of ROM (1.48 MnT), fines (0.48 MnT) and lump (0.15 MnT).
Goa DMG had raised base prices for this e-auction against previous e-auction held on 24 Dec’15. The base price in today’s e-auction ranged from INR 500-1,200/MT.
As per sources, the e-auction fetched poor response and nearly 30% (0.65 MnT) of the offered quantity fetched bids. Sources mentioned that majority of the lots received flat bids and very few lots received bids higher from base prices.
Key highlights of 15th iron ore e-auction-
- Lots containing fines received comparatively good response with nearly 65% (0.31 MnT) of the fines lots receiving bids. Most of the lots received bids equivalent to base price. However some lots received higher bids. For ex- lot containing fines (Fe 60%) located at Vagus jetty received bids INR 510/MT higher than its base price of INR 930/MT
- Out of 1.48 MnT ROM offered, 0.3 MnT received bids. Most of the lots fetched flat bids, while some fetched higher bids. For instance, ROM (Fe 60%) located ta Suctolim mine was base priced at INR 560/MT but it received bids at INR 1,200/MT
- 0.15 MnT lump was offered out of which 0.04 MnT lump lots received bids and all the lots received bids at par with the base price except one lot. Lump (Fe 51.9) located at Vagus jetty was base priced at INR 730/MT but it fetched bids at INR 810/MT
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