MSTC has declared the results of Iron ore e-auction by private mines on 30 Jun, 2014. As per the results, the total quantity offered was 0.38 MnT, out of which 0.05 MnT was sold.
Key Points of E-auction held on 30 Jun, 2014
- Largest buyer was MSPL and purchased 32,000 MT
- Amongst the private miners, RMML & Vyasankera Iron ore mines offered Iron ore in major quantities of 0.2 MnT & 0.15 MnT respectively
- Iron ore fines & lumps bid prices remained unchanged in contrast with previous private mines’ e-auction
- JSW Steel didn’t purchase Iron ore from this e-auction as it had already procured 0.92 MnT from previous e-auctions conducted in Jun, 2014
384,000 MT Iron Ore offered in Karnataka E-auction
|
Material Type |
Offered Qty |
Allotted Qty |
|
Fines |
228,000 |
44,000 |
|
Lumps |
156,000 |
12,000 |
|
Total |
384,000 |
56,000 |
Qty in MT
Source: SteelMint Research
Iron Ore Buyers in 30 Jun, 2014 Karnataka E-auction
|
Buyers |
Cargo Type |
Alloted Quantity (MT) |
W.A. Grade (%) |
W.A Floor Price |
W.A Bid Price |
|
MSPL |
Fines |
32,000 |
64 |
3,800 |
3,800 |
|
Gerdau Steel India |
Fines |
8,000 |
64 |
3,588 |
3,618 |
|
Kirloskar Ferrous Industries |
Lumps |
4,000 |
65 |
4,150 |
4,150 |
|
Sathavahana Ispat |
Lumps |
4,000 |
63 |
4,400 |
4,400 |
|
Mukand |
Lumps |
4,000 |
65 |
4,900 |
4,900 |
|
Xindia Steels |
Fines |
4,000 |
64 |
3,800 |
3,810 |
|
Total |
56,000 |
Qty in MT; Basic prices in INR/MT
W.A: Weighted Average
Source: SteelMint Research
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