Iron ore e-auction results as held on 6 Dec, 2013. For NMDC’s Kumarswamy mines, sales are up by 1 % as compared to last auction. While other mines & stockyards in Karnataka, showed an increase of 6% in sales vs. previous auction.
The total quantity of Iron ore offered by Kumarswamy mines was about 260,000 MT in which 38% (100,000 MT) of Iron ore was purchased by bidders. Other mines and stockyards offered 372,000 MT of Iron ore in which 56% (208,000 MT) were purchased by bidders.
Kumarswamy Iron ore fine prices were increased by 25%. The average price for Fe 60% iron ore fines was about INR 3032/MT. While, Iron ore lumps for Fe 62% was sold on floor price was at INR 3706/MT
Source: SteelMint I Royalty 10%, VAT 5.5%( on auction price and royalty) FDT 12% are applicable
Details of sold quantities: Kumarswamy mines
Iron ore lumps: 64,000 MT
Iron ore fines: 36,000 MT
Details of sold quantities: Other mines and Stockyards
Iron ore lumps: 88,000 MT
Iron ore fines: 120,000 MT
In Kumarswamy e-auction, about 44% of Iron ore was purchased by JSW Steel in which about 24,000 MT were fines and around 20,000 MT were lumps. Kalyani steel purchased about 32,000 MT of Iron ore and Mukand purchased 12,000 Mt.
In other mines e-auction, the main buyer was JSW Steel and Sesa Sterlite. Of the total sales, JSW purchased about 61% whereas MSP purchased about 15%.
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