Iron ore sales through Karnataka e-auctions have increased by 10% to 2.2 MnT in Jul’14 (till 25 Jul, 2014) against 2 MnT in Jun’14.
Till now, JSW Steel purchased 1.5 MnT Iron ore in July, 2014 through e-auctions, which amount to 70% of the total Iron ore sales.
In the two e-auctions held on 25 Jul, 2014 in Karnataka by MSTC, 0.24 MnT Iron ore has been sold. The highlights of the e-auction are as follows:
- JSW Steel was the largest buyer at 0.18 MnT
- Iron ore fines offered by NMDC was allotted entirely
- 71% of the material offered by private miners remain unsold owing to high prices
Bid prices of NMDC’s lumps & fines stood almost at similar levels in contrast with NMDC’s previous e-auction. Bid price of Fe 60% fines was at INR 2,428/MT, (basic) while for Fe 63% lumps, it stood at INR 3,925/MT (basic).
244,000 MT Iron Ore sold in Karnataka E-auction
|
|
Bid Qty |
Allotted Qty |
||
|
Material Type |
Fines |
Lumps |
Fines |
Lumps |
|
NMDC |
72,000 |
116,000 |
72,000 |
56,000 |
|
Private Mines |
328,000 |
60,000 |
80,000 |
32,000 |
|
Total |
400,000 |
176,000 |
152,000 |
88,000 |
Qty in MT
Source: SteelMint Research
Top 5 Iron Ore Buyers in E-auction
|
Bidder Name |
Cargo Type |
Allotted Qty |
W.A Grade (%) |
W.A Bid Price |
W.A Floor Price |
|
JSW Steel |
Fines |
128,000 |
60 |
2,640 |
2,640 |
|
Lumps |
56,000 |
62 |
3,876 |
3,833 |
|
|
Sesa Sterlite |
Lumps |
16,000 |
65 |
4,425 |
4,425 |
|
Xindia Steels |
Fines |
12,000 |
64 |
3,480 |
3,480 |
|
Slr Metaliks |
Fines |
4,000 |
59 |
2,400 |
2,400 |
|
Lumps |
4,000 |
59 |
3,450 |
3,450 |
|
|
Janki Corp |
Fines |
8,000 |
56 |
1,910 |
1,900 |
Qty in MT; Basic prices in INR/MT
W.A: Weighted Average
Source: SteelMint Research
Note: Grade & Bid prices are Weighted Average
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