Out of 1.7 MnT iron ore offered, nearly 67% of the quantity received bids.
Goa 16th iron ore e-auction held today (i.e. 04 Oct’16) received good response. As per market sources report to SteelMint, nearly 1.14 MnT iron ore (67% of the offered quantity) fetched bids.
Offered quantity amounted to 1.7 MnT, which was offered in 48 lots. Out of this, 1.17 MnT is ROM, 0.41 MnT is fines, 0.05 MnT is lump and remaining 0.07 MnT is fines/lump.
Grade of ROM offered was from Fe 44.5-62.9% and was base priced at INR 500/MT. Fines offered varied from Fe 48.9-61.1% with base price of INR 500/MT. Grade of lump offered in the e-auction varies from Fe 43.1-62.4%.
Goa DMG reduced base price for this e-auction and fixed it at INR 500/MT for all material type offered across all grades.
Key highlights of 16th iron ore e-auction
1. Out of 1.17 MnT ROM offered, nearly 0.76 MnT (65%) received response from the bidders
2. Lot containing ROM (Fe 62.95%) located at Vagus jetty received bid at INR 1,430/MT. Thus bids for this lot were up by INR 930/MT against base price
3.Out of 0.41 MnT fines offered in the e-auction, nearly 0.26 MnT (63%) fetched response from the bidders
4. Almost all the lots containing lump offered received bids, except two lots
5. For most of the lots bid price remained closed to base price or INR 100/MT above the base price. Except a lot of ROM for which bids went higher by INR 930/MT
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