NMDC’s 10th Advance Iron ore e-auction for Donimalai mines in the states of Karnataka will held on 10 Dec 2013. The total quantity of Iron ore offered for sale in e-auction is 360,000 MT.
MSTC`s monitoring committee will conduct the bidding on behalf of NMDC. Auction will commence at 15:00 HRS IST and conclude by 17:00 HRS IST. The Inspection of material will take place between 03.12.13 to 09.12.13
Total quantity of Iron ore offered for sale:
Iron ore lumps 144,000 MT, Fe 62.5, Moisture4-6%, undersize up to 15%
Iron ore Fines 216,000 MT, Fe 60, and Moisture 6-8%
Weekly Schedule:
Week 1 (16.12.13-22.12.13)
Iron ore lumps: 36,000 MT
Iron ore Fines: 52,000 MT
Week 2 (23.12.13- 29.12.13)
Iron ore lumps: 52,000 MT
Iron ore Fines: 40,000 MT
Week 3 (30.12.13- 05.01.14)
Iron ore lumps: 24,000 MT
Iron ore Fines: 64,000 MT
Week 4 (06.01.14- 12.01.14)
Iron ore lumps: 32,000 MT
Iron ore Fines: 60,000 MT
Royalty 10%, VAT 5.5% (on auction price and royalty), FDT 12% are applicable.
In November advance e-auction NMDC offered 432,000 MT of Iron ore out of which NMDC sale 412,000 MT of Iron ore. Iron ore fines price increased by 43% against the floor price whereas Iron ore lumps sold on Floor Price.
88% of iron ore lumps sold out in November advance e-auction. The main buyers are JSW Steel Ltd 104,000 MT, JSW Steel Salem works 56,000 MT, Kalyani gerdau steel Ltd 16,000 MT.
The average price for Fe 61 Grade Fines in Nov advance auction was INR 3154/MT and Fe 63 grade lumps price was at INR 3834/MT
Royalty 10%, VAT 5.5% (on auction price and royalty), FDT 12% are applicable.
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