MSTC has declared the results of Karnataka e-auctions held on 25 Feb, 2015. Out of the total offered quantity i.e. 0.45 MnT, only 0.10 MnT Iron ore was sold.
Iron ore e-auctions held on 25 Feb’15 received a poor response as out of 0.45 MnT Iron ore offered, only 0.10 MnT was sold. The material was offered by private miners namely Vyasankere Iron ore mines, SMIORE, H. R. Gaviappa & Company, G. G. Brothers and P Balasubba Setty & Son.
The e-auction fetched flat bids. Base & bid prices for fines (Fe 64) have fallen by INR 100/MT and stood at INR 2,820/MT. While, lump (Fe 63) prices stood at INR 3,150/MT.
Supplier-wise Allotted Quantity
| Company | Fines | Lump | Total |
| Vyasankere Iron Ore Mines | 60,000 | – | 60,000 |
| SMIORE | – | 24,000 | 24,000 |
| G G Brothers | – | 8,000 | 8,000 |
| Others | 8,000 | 4,000 | 12,000 |
| Total | 68,000 | 36,000 | 104,000 |
Quantity in MT
Source: SteelMint Research
Largest buyer was MSPL at 60,000 MT followed by Jayalaxmi Mineral & Mukand at 12,000 MT & 8,000 MT respectively.
Bidder-wise Allotted Quantity
| Company | Fines | Lump | Total |
| MSPL | 60,000 | – | 60,000 |
| Jayaalaxmi Mineral | 4,000 | 8,000 | 12,000 |
| Mukand | – | 8,000 | 8,000 |
| Others | 4,000 | 20,000 | 24,000 |
| Total | 68,000 | 36,000 | 104,000 |
Quantity in MT
Source: SteelMint Research
Note: Grade & prices are weighted average.
Leave a Reply