Metal Scrap Trade Corporation (MSTC), a Government of India Enterprises has declared Iron ore e-auction results for NMDC Iron ore mines in Karnataka, which held on 14 Feb, 2014.
NMDC has offered 236,000 MT Iron ore in the e-auction, out of which only 100,000 MT purchased by the bidder. The main buyer was JSW and purchased 88,000 MT of Iron ore.
108,000 MT of fines offered, out of which 88,000 MT sold. Demand for fines decreases because of high bid price.
Iron ore fines bid price up by 8.5 % against floor price. JSW was the biggest buyer of fines with 76,000 MT of fines purchased. There were fewer buyers of lumps as out of 128,000 MT offered; only 12,000 MT was purchased.
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NMDC Iron ore Prices 14 Feb’14 E-auction |
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Material Type |
Grade |
Price |
Quantity Sold |
|
Fines |
60 |
2,465 |
68,000 |
|
Lumps |
62 |
3,911 |
12,000 |
Royalty 10%; VAT 5.5% (on auction price and royalty); FDT 12% are applicable
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