Metal Scrap Trade Corporation (MSTC), a Government of India Enterprises has declared Iron ore e-auction results for various mines & stockyards held on 13 & 14 Feb, 2014 in Karnataka.
Total 1 MnT Iron ore was offered in which 0.5 MnT was allotted in the e-auction. Iron ore fines of below 55 grades sold in high quantity and the major buyer was JSW Steel.
Iron ore fines price up by 20% and lumps price up by 4.5% in the e-auction. Iron ore base price is comparatively less than the last private mines e-auction.
13 Feb, 2014
820,000 MT Iron ore offered out of which 428,000 MT was sold. JSW was the biggest buyer with the purchase of 212,000 MT Iron ore in which 64% of Iron ore was below Fe 48 grades.
14 Feb, 2014
232,000 MT Iron ore was offered in the auction of which only 72,000 MT sold. High base price of Iron ore indicate less sale of Iron.
High base price keep bidders less interested in purchase of Iron fines. JSW was the main bidder with 32,000 MT and purchase 24,000 MT Iron ore lumps. Out of 76,000 MT lumps offered, 48,000 MT was purchased by the bidders.
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Iron ore Prices on 13 & 14 Feb’14 E-auction |
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|
Material Type |
Grade |
Price |
Quantity Sold (in MT) |
|
Fines |
56 |
2,450 |
12,000 |
|
Fines |
53 |
1,426 |
20,000 |
|
Lumps |
64 |
4,800 |
20,000 |
|
Lumps |
60 |
3,435 |
16,000 |
|
ROM |
53 |
1,222 |
60,000 |
Royalty 10%; VAT 5.5% (on auction price and royalty); FDT 12% are applicable
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