Karnataka Iron ore e-auction held on 23 Mar’15 received a mild response from bidders with 40% of the material being sold.
NMDC Donimalai Mines had auctioned 0.7 MnT Iron ore via e-auction. Out of the offered quantity only 0.3 MnT was sold.
Karnataka Iron Ore E-auction on 23 Mar’15
|
Material Type |
Offered Qty |
Allotted Qty |
| Fines | 344,000 | 120,000 |
| Lump | 324,000 | 156,000 |
| Total | 668,000 | 276,000 |
Qty in MT
Source: SteelMint Research
The e-auction fetched flat bids. Fines (Fe 61%) was sold at base price of INR 1,900/MT. Similarly, lump (Fe 63.4%) was allotted at INR 2,870/MT.
JSW Steel was the largest buyer at 0.26 MnT (0.12 MnT fines & 0.14 MnT lump).
Note: Grade & prices are weighted average
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