Goan government had auctioned about 2.1 MnT Iron ore in three different lots through 4th e-auction, which was conducted on 19, 20 & 21 Aug, 2014. The last lot, which was for 1.6 MnT auctioned on 21 Aug, 2014 has fetched higher bids as compared to previous two lots.
Participants mentioned that bids have gone up quite high against previous lots, especially for high grade ore laid at jetty or port area. 95% of cargo, which was also offered in the auction, sold in the third lot.
“A lot of 66,000 MT 63% Fe Fines with a base price of INR 1,760/MT laid at jetty, has fetched bids up to INR 3,000/MT. Cargo was speculated to have bought by JSW Steel or Sesa Sterlite,” said one of the participants.
Another participant, who is also an exporter, has mentioned that bids were quite high and almost 95% of cargo offered had received bids. He further added that international prices are so low that exporters can’t even think of placing such high bids.
He urged that out of the total quantity, almost one-third of ore auctioned, was of Fomento and the company itself has bought most of it.
- 29,000 MT Lumps of 61% Fe, which was laid at jetty with a base price of INR 1,640/MT, was bid at INR 2,560/MT
- 23,000 MT ROM of 58% Fe laid at jetty with a base price of INR 920/MT, was bid at INR 1,680/MT
- 23,000 MT ROM (58% Fe) laid at jetty, having a base price of INR 920/MT, was bid at INR 1,720/MT
- 23,000 MT ROM of Fe 58%, having a base price of INR 920/MT laid at jetty, was bid at INR 1,800/MT
Recently, Indian steel mills have started importing Iron ore amid disturbed supply of ore from Odisha.
For Goa 4th e-auction bid sheet click here:-
http://www.steelmint.com/fileForMail/BID_GOA.xls
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