Iron ore e-auction results held on 26th September in Karnataka got a good response from the bidders. 92% of Iron ore was purchased by the bidders. The total quantity of Iron ore offered for sale 734,000MT out of which the bid came for 678,000MTof Iron ore.
Auction1: Total number of bid came are 188 out of which number of bidders was 10 and winner09.
Auction2: Total number of bid came 135 out of which number of bidders was 07 and winner 05.
In auction 1 Iron ore fines price increased by 18.1% and ROM price increased by 2.1% whereas in auction 2 Iron ore fines price increased by 18%
Detail of quantity: Auction1
Iron ore fines 286,000 MT
ROM 72,000 MT
Overall increase in booking price of Iron ore against the floor is 6.67%. The main bidder in auction1 was JSW Steel Ltd, BMM Ispat, Divyajyoti Steels Ltd and MSPL Ltd. JSW Steel Ltd purchased 43% of Fines and 38 % of ROM. 37% of Fines and 33% ROM was purchased by BMM Ispat Ltd. Divyajyoti Steel Ltd purchase 24000MT of Iron Fines.
Detail of quantity: Auction2
Iron ore fines 80,000 MT
Iron ore Lumps 240,000 MT
Iron ore booking price increased by 2.20% against the floor price. The main bidders in auction2 was JSW Steel Ltd, BMM Ispat Ltd and Xindia Steels Ltd. 96% of Iron ore lumps was purchased by JSW Steel ltd. BMM Ispat Ltd and Xindia Steel Ltd purchased 12000MT Iron fines each whereas JSW Steel Purchased 50% of Iron ore Fines.
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