MSTC has declared the results of e-auctions held on 04 & 09 Jul, 2014.
0.6 MnT Iron ore was sold in last two Karnataka e-auctions, out of which 0.5 MnT was sold in NMDC’s advance e-auction and the remaining in private mines e-auction. JSW Steel was the largest buyer in both, with total purchase quantity of 0.48 MnT.
Key Features of E-auction held on 09 Jul, 2014
- The entire quantity of Iron ore offered by the two companies namely Veerabhadrappa Sangappa & Company and SMIORE was sold out completely
- Bid price of Iron ore fines (Fe 63%) stood at INR 3,216/MT, while the bid price of Iron ore lumps (Fe 63%) was at INR 4,090/MT
- Iron ore fines bid prices (Fe 60%) reduced by INR 185/MT, whereas floor prices fell by INR 325/MT
- Largest buyer was JSW Steel with 84,000 MT
104,000 MT Iron Ore sold in Karnataka E-auction
|
Material Type |
Offered Qty |
Allotted Qty |
|
Fines |
108,000 |
80,000 |
|
Lumps |
44,000 |
24,000 |
|
Total |
152 ,000 |
104,000 |
Qty in MT
Source: SteelMint Research
Iron Ore Buyers in E-auction
|
Buyers |
Cargo Type |
Allotted Qty |
W.A Grade (%) |
W.A Bid Price |
W.A Floor Price |
|
JSW Steel |
84,000 |
Fines |
64,000 |
63 |
3,185 |
|
Lumps |
20,000 |
63 |
4,030 |
||
|
Gerdau Steel India |
8,000 |
Fines |
8,000 |
64 |
3,590 |
|
Sathavahana Ispat |
4,000 |
Lumps |
4,000 |
65 |
4,390 |
|
MSPL |
4,000 |
Fines |
4,000 |
63 |
3,180 |
|
Mukand |
4,000 |
Fines |
4,000 |
61 |
3,000 |
Qty in MT; Basic prices in INR/MT
W.A: Weighted Average
Source: SteelMint Research
Key Features of Advance E-auction held on 04 Jul, 2014 by NMDC
- Out of 0.51 Iron ore, 0.50 MnT was sold
- Largest buyer was JSW Steel with 0.4 MnT in which 0.3 MnT was fines and rest was lumps
- Iron ore fines & lumps bid prices remain unchanged as compared to NMDC’s previous advance e-auction
- Iron ore fines (Fe 60%) bid price stood at INR 2,630/MT, while the bid price for Iron ore lumps (Fe 62%) was at INR 3,988/MT
504,000 MT Iron Ore sold in Karnataka E-auction
|
Material Type |
Offered Qty |
Allotted Qty |
|
Fines |
368,000 |
368,000 |
|
Lumps |
144,000 |
136,000 |
|
Total |
512 ,000 |
504,000 |
Qty in MT
Source: SteelMint Research
Iron Ore Buyers in E-auction
|
Buyers |
Cargo Type |
Allotted Qty |
W.A Grade (%) |
W.A Bid Price |
W.A Floor Price |
|
JSW Steel |
Lumps |
96,000 |
62 |
3,986 |
3,986 |
|
Fines |
2,88,000 |
60 |
2,617 |
2,617 |
|
|
Gerdau Steel |
Fines |
20,000 |
60 |
2,638 |
2,628 |
|
Lumps |
12,000 |
62 |
3,996 |
3,986 |
|
|
BMM Ispat |
Fines |
24,000 |
60 |
2,638 |
2,628 |
|
Sesa Sterlite |
Lumps |
16,000 |
62 |
3,996 |
3,986 |
|
Lanco Industries |
Fines |
16,000 |
60 |
2,638 |
2,628 |
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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