India: Iron Ore E-Auction on 21st & 22nd October'13

MSTC (Metal & Scrap Trading Corporation Ltd) is conducting Iron ore e-auction on 21^st and 22nd of October for various mines and stock yards in Karnataka.

The total quantity of Iron ore offered for sale is about 808,000 MT.

Auction 1 (21st October) will commence at 15:00 HRS IST and conclude by 17:00 HRS IST

Auction 2 (22nd October) will commence at 11:00 HRS IST and conclude by 13:00 HRS IST

Auction 1 Inspection of material will take place between 14.10.13 to 19.10.13

Auction 2 Inspection of material will take place between 14.10.13 to 21.10.13

Iron ore offered for sale: Auction 1

ROM 236,000 MT

Iron ore fines 140,000 MT

 Due Date: Up to 1400 hrs (IST) on 21 Oct, 2013

Iron ore offered for sale: Auction 2

ROM 164,000 MT

Iron ore fines 232,000 MT

Iron ore lumps 36000 MT

 Due Date: Up to 1000 hrs (IST) on 22 Oct, 2013

Royalty 10%, VAT 5.5% (on auction price and royalty) FDT 12% are applicable.