Iron ore e-auction results, held on 1st & 3rd of October in Karnataka. The e-auction was conducted by MSTC on behalf of various mines and stockyards in the state of Karnataka. The total quantity of iron ore offered on 1st October auction was 324,000 MT & 832,000 MT on 3rd of October.
1st October auction, total number of bid came 08 out of which number of bidders 04 and winners 04.
3rd October auction, total number of bid came 293 out of which number of bidders 13 and winners 06.
In 3rd October auction 84% of iron ore was sold out but in 1st October e-auction only 22% of iron ore sold out.
Detail of bidding Quantity: 1st October
Iron ore Lumps 4,000 MT
ROM 68,000 MT
252,000 MT of Iron ore unsold. Iron ore price increased by 0.26% against the floor price, ROM price increased by 0.4%.
The main bidder was JSW Steel Ltd and SLV Steels and Alloys Pvt Ltd. JSW Steel Purchase 32000 MT of ROM and SLV Steel purchase 20000 MT of ROM.
The average price for Fe 56% ROM was INR 1900/MT
Detail of bidding Quantity: 3rd October
Iron ore Fines 28,000 MT
ROM 676,000 MT
Iron ore fines price increased by 15% and ROM price increased by 113% against the floor price. The main bidders were JSW Steel Ltd, Purchased 664,000 MT of ROM.
The average price for Fe 65 Iron ore fines was INR 3506/MT.
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