MSTC has declared the results of the Karnataka e-auction conducted on 26 May’14. As per the result, the total quantity offered by private miners was 284,000 MT while the total quantity sold amounted to 248,000 MT.
The largest buyer was JSW Steels at 196,000 MT, which is 79% of the total purchases.
|
248,000 MT Iron ore sold |
||
|
Qty Offered |
Qty Sold |
|
|
Fines |
244,000 |
216,000 |
|
Lumps |
40,000 |
32,000 |
|
Total |
284,000 |
248,000 |
Qty in MT
Source: SteelMint
E-auction highlights
- It has been for the very first time in this entire month that 87% of the total quantity offered by private miners was sold out in the e-auction, the prominent reason for this was reduction in floor prices
- In contrast with the last e-auction the floor price of Iron ore Fines of Fe 62% witnessed a decline of 19% and Lumps of Fe 61.5% fell by 13.5%
- Escalation of 5% in Lumps bid price & 1.3% in Fines bid price over their floor prices was observed in this e-auction
|
Buyers of Iron Ore in 26 May E-auction |
||||||
|
Buyers |
Allotted Qty |
Material Type |
Allotted Qty |
W.A. Grade |
W.A. Floor Price |
W.A. Bid Price |
|
JSW Steel Ltd |
1,96,000 |
Fines |
176,000 |
63 |
3,255 |
3,275 |
|
Lumps |
20,000 |
63 |
3,840 |
4,048 |
||
|
Sathavahana Ispat |
12,000 |
Fines |
12,000 |
60 |
2,735 |
2,742 |
|
Kirloskar Ferrous Industries |
12,000 |
Lumps |
4,000 |
64 |
4,100 |
4,140 |
|
Fines |
8,000 |
61 |
2,883 |
2,903 |
||
|
Kej Minerals |
8,000 |
Fines |
4,000 |
57 |
1,700 |
2,260 |
|
Lumps |
4,000 |
62 |
3,200 |
3,510 |
||
|
BMM Ispat |
8,000 |
Fines |
8,000 |
59 |
2,090 |
2,470 |
|
Mukand |
4,000 |
Lumps |
4,000 |
64 |
4,100 |
4,250 |
|
Janki Corp |
4,000 |
Fines |
4,000 |
58 |
2,440 |
2,450 |
|
SLR Metaliks |
4,000 |
Fines |
4,000 |
63 |
3,190 |
3,190 |
Qty in MT
Prices in INR/MT
W.A. (Weighted Average)
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