JSW Steel-India’s 2nd largest private sector steel making company in terms of production capacity resumed iron ore purchases from Goa e-auctions after a span of 1 year. It had last participated in the Goa e-auctions in the month of Nov’14 and purchased 0.35 MnT iron ore fines.
The steel giant participated in the recent Goa iron ore e-auction held on 24 Dec’15. It procured 50,000 MT fines (Fe 64%) located at Vedanta’s Codli mines. The base price of this material was INR 500/MT and it purchased the material at INR 630/MT.
The 14th Goa iron ore e-auction held on 24th Dec’15 received moderate response. Nearly 50% of the offered material (2.37 MnT) was sold. There were three bidders in the e-auction.
Vedanta remained the largest bidder and procured 91% of the allotted quantity. Other bidders were Kalinga Allied Industries and JSW Steel.
Bidder wise allotted quantity in 14th Goa ore e-auction
|
|
ROM | Fines | Lump |
|
| Vedanta | 977,710 | 89,460 | 1,430 | 1,068,600 |
| Kalinga Allied Industries | – | 54,160 | – | 54,160 |
| JSW Steel | – | 50,000 | – | 50,000 |
| Total | 977,710 | 193,620 | 1,430 | 1,172,760 |
Qty in MT
Source: Goa DMG
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