- 2.05 MnT iron ore was sold via Jul’16 Karnataka e-auctions
- NMDC’s iron ore sales via e-auctions down by 15% M-o-M
- JSW Steel’s iron ore purchases from Karnataka fall by 10% M-o-M in Jul’16
Iron ore sales via Karnataka e-auctions observed a fall of 22% M-o-M in Jul’16. 2.05 MnT iron ore was allotted in Jul’16 compared to 2.63 MnT in Jun’16.
NMDC’s iron ore sales in Jul’16 was at 0.87 MnT (down by 15% M-o-M). Mysore Minerals sold 0.3 MnT and iron ore sales by private miners was recorded at 0.88 MnT in Jul’16.
Buyer-wise allotted quantity in Jul’16 e-auctions:
|
Company |
Fines | Lump |
Total |
| JSW Steel | 856,000 | 605,000 | 1,461,000 |
| BMM Ispat | 112,000 | – | 112,000 |
| Thakur Industries | 24,000 | 22,500 | 46,500 |
| Kirloskar Ferrous Industries | 20,000 | 20,000 | 40,000 |
| Minera Steel And Power | 40,000 | – | 40,000 |
| Others | 88,000 | 258,000 | 346,000 |
| Total | 1,140,000 | 905,500 | 2,045,500 |
Qty in MT
Source: Karnataka DMG
Key highlights of Jul’16 Karnataka e-auctions:
- JSW Steel continues to remain the largest buyer with 71% share in total allotted quantity. Its purchases from Karnataka e-auctions declined by 10% M-o-M in Jul’16 to 1.46 MnT.
- SAIL (VISL) procured 16,000 MT lump (Fe 60.5%) at INR 1,383/MT.
- Gujarat based Electrotherm India procured 4,000 MT lump (Fe 65%) at INR 2,125/MT.
- NMDC’s base prices remained unchanged on monthly premises. Base prices for its Donimalai mines were as follows: lump (Fe 62.5%) – INR 1,953/MT and fines (Fe 60.2%) – INR 1,650/MT. For Kumaraswamy mines, base prices were as follows: fines (Fe 62.8%) was at INR 1,672/MT and for lump (Fe 63.5%) it was at INR 1,839/MT. Majority of lots were sold at base price.
- Though NMDC kept its base prices unchanged, it reduced prices on few lots of limited quantity of 10-20 mm. Base prices in 10-20 mm lump (Fe 63.3%) of NMDC’s Kumaraswamy mines was base priced at INR 1,694/MT in Jul’16 e-auctions
- Mysore Minerals’ base prices of fines moved up slightly in Jul’16. Base prices for fines (Fe 61.1%) was at INR 1,669-1,679/MT and for lump (Fe 56%) prices stood INR 1,316/MT.
- Private miners base price were as follows: Base prices for fines (Fe 65%) offered by Vyasankere mines remained at INR 2,025/MT (basic) and for lump (Fe 65%) are seen hovering in the range of INR 2,125/MT. Base prices of Sesa Sterlite’s lump (Fe 60.5%) stood at INR 1,376/MT (weighted average basic price) and fines (Fe 63.3%) was at INR 1,450/MT (basic).
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