Iron ore e-auction result, which was held on 27th September'13, conducted by MSTC on behalf of various mines and stockyards in Karnataka. The total quantity of Iron ore offered for sale was 460,000MT out of which 268,000MT of Iron ore was sold i.e. 58%.
Auction1: Total number of bid came 304 out of which number of bidders was 15 and winner13.
Auction2: Total number of bid came 406 out of which number of bidders was 11 and winner 07.
In auction1 Iron ore fines booking price is increased by 12% against the floor price and Iron ore lumps price increased by 0.5% against the floor price.
In auction2 Iron ore fines booking price increased by 13% and Rom price by 26% against the floor price. Whereas, Iron ore lumps was sold on floor price.
Details of Bidding Quantity: Auction1
Iron ore fines 84,000 MT
Iron ore Lumps 96,000 MT
Overall Iron ore booking price increased by 4.66% against the floor price in auction1. The main bidder was JSW Steel Ltd, which purchased 55% of Iron ore.
Average booking price for Fe 63% Iron or fines is INR 3160/MT and 57% INR 2705.Iron ore lumps Grade Fe 58-60% average price was INR 3021/MT.
Details of Bidding Quantity: Auction2
Iron ore lumps 12,000MT
ROM 28,000 MT
Iron ore fines 76,000MT
Overall Iron ore booking price increased by 14% against the floor price in auction2.The main bidders were JSW Steel Ltd and MSPL Ltd. JSW Steel ltd purchased 57% of Iron ore and MSPL Ltd purchased 15% of Iron ore
Average booking price for Fe 63.5% Iron or fines was INR 3795/MT
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