Iron ore e-auction results, which is conducted by MSTC on behalf of various mines and stockyards in Karnataka on 29th October. The total quantity of Iron ore offered for sale was 396,000 MT.
In Auction 1 total number of Bid came 326 out of which numbers of bidder are 8 and winners 6.
In Auction 2 total number of Bid came 107 out of which numbers of bidder are 6 and winners 5.
Auction 1: Details of Quantity sold
Iron ore lumps: 76,000 MT
Iron ore fines: 104,000 MT
Rom: 8000 MT
Total quantity of iron ore offered in auction 1 was about 216,000 MT out of which only 188,000 MT of Iron ore was sold out. The main bidder for Iron ore in auction 1 was JSW Steel ltd. JSW purchased 78% of iron ore and JSW Steel Ltd Salem Works purchased 8.5% of total Iron ore.
Iron ore lumps price increased by 0.27% and only 73% of Lumps was sold out. Iron ore fines price increased 10.23% and total quantity of iron ore fines offered was sold out.
The average booking price for Fe 61.5-63 Lumps is about INR 3890/MT and Fe 60-62 Fines price is about INR 3445/MT.
Iron ore booking price was increased by 5.24% against the floor price in 29th e-auction.
Auction 2: Details of Quantity sold
Iron ore fines: 88,000 MT
Total quantity of Iron ore offered in auction 2 was 180,000 MT. 92,000 MT of Iron ore lumps were unsold. Iron ore fines price increased by 2.1% against the floor price. The main bidder for Iron ore fines was JSW Steel Ltd, Kirloskar Ferrous Industries Limited and MSPL Ltd.
JSW Steel purchased 41% of fines, Kirloskar Ferrous Industries Limited & MSPL Ltd purchased 13.6% of Iron ore fines each.
The average booking price for grade Fe 63.5 Iron ore fines in auction 2 was INR 3887/MT and Fe 61 is about INR 3370/MT
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