Iron ore e-auction results for various mines and stockyard in Karnataka held on 16 Nov, 2013, There were 2 auctions in which total quantity of Iron ore offered for sale was 348,000 MT.
Iron ore fines price increased by 14% in e-auction whereas Iron ore lumps price increased by 3.5%. Overall increase in the booking price of Iron ore over the floor price is about 12.2%.
In auction 1 total Bid were 488 out of which numbers of bidder are 13 and winners 5.
In auction 2 total Bid were 62 out of which numbers of bidder are 5 and winners 4.
Details of Quantity sold:
Iron ore lumps: 36,000 MT
Iron ore fines: 140,000 MT
Mines were able to sell only 50% of Iron ore through e-auction i.e. 176,000 MT. 97% of Iron ore fines offered were sold on high price and only 17.6% of Iron ore lumps were sold out of 204,000 MT.
The main bidder of Iron ore fines was JSW Steel ltd, Kalyani steels ltd, Kirloskar Ferrous Industries ltd and MSPL Ltd. JSW Steel Ltd purchased 52% Iron ore fines put on bidding followed by Kalyani steel ltd with 20,000 MT, MSPL with 16,000 MT and Kirloskar purchased 12,000 MT.
Iron ore fines price for Fe 65 was traded at average of INR 4110/MT and Fe 62 at INR 3555/MT.
Iron ore lumps price for Fe 63-63.5 was at INR 3505/MT and Fe 60.5 is traded at INR 3350/MT
Royalty 10%, VAT 5.5% (on auction price and royalty), FDT 12% are applicable on the give prices.
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