Karnataka Iron ore e-auction held on 16 Mar’15 received a moderate response. Only about half of the total Iron ore offered by NMDC was sold.
The e-auction by NMDC Kumarswamy Mines fetched flat bids. Fines (Fe 60%) were sold at the base price of INR 1,760/MT. Similarly lump (Fe 63%) was also allotted at its base price of INR 2,670/MT.
0.48 MnT Iron ore comprising of 0.26 MnT fines & 0.22 MnT lump was offered in this e-auction. Out of this, 0.21 MnT Iron ore (0.16 MnT fines & 0.05 MnT lump) was sold to the bidders.
JSW Steel procured 0.19 MnT of the material; 0.16 MnT fines & the remaining was lumps. Other bidders in the e-auction were Jai Raj Ispat, Mukand, Bhadrashree Steel & Power.
Note: Grade & prices are weighted average
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