Iron ore sales via Karnataka e-auctions have increased by 14% from 1.4 MnT in Oct’14 to 1.6 MnT in Nov’14. Out of 1.7 MnT Iron ore offered, 1.6 MnT was sold in Nov’14.
In Nov’14, NMDC had corrected the lump prices while kept the fines prices unchanged. While, fines prices remained stable. Floor & bid prices for lump (Fe 62%) were INR 3,800/MT and for fines (Fe 60%) were INR 2,630/MT.
Private mines floor & bid prices for fines (Fe 63%) stood at INR 3,440/MT. Floor & bid prices for lumps (Fe 64%) offered by private mines stood at INR 4,380/MT. Bid prices for ROM (Fe 55%) stood at INR 2,500/MT. While sub grade ROM was allotted at base price of INR 450/MT.
Karnataka Iron Ore E-auction in Nov’14
|
Mines |
Bid Qty |
Allotted Qty |
| NMDC | 1,008,000 | 900,000 |
| Other Mines & Stockyards | 730,000 | 690,000 |
| Total | 1,738,000 | 1,590,000 |
Qty in MT
Source: SteelMint Research
Largest buyer was JSW Steel at 1.1 MnT followed by BMM Ispat & MSPL. India’s leading steelmaker, JSW Steel has increased its procurement from Karnataka by 26% from 0.87 MnT in Oct’14 to 1.1 MnT in Nov’14. R B Seth Shree Ram Narsingdas has noticeably increased its purchase from 12,000 MT in Oct’14 to 40,000 MT in Nov’14.
Top 5 Iron Ore Buyers in Nov’14
|
Company |
Fines | Lumps | ROM |
Sub Grade ROM |
Grand Total |
| JSW Steel | 900,000 | 156,000 | – | – | 1,056,000 |
| BMM Ispat | 64,000 | – | – | – | 64,000 |
| MSPL | 36,000 | 20,000 | – | 56,000 | |
| Janki Corp | – | – | – | 42,000 | 42,000 |
| R B Seth Shree Ram Narasingdas | 16,000 | 24,000 | – | – | 40,000 |
| Others | 192,000 | 136,000 | 4,000 | – | 332,000 |
| Total | 1,208,000 | 316,000 | 24,000 | 42,000 | 1,590,000 |
Qty in MT
Source: SteelMint Research
Note: Grade & prices are weighted average.
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