6.61 MnT iron ore sold in Q2 FY17, up by 5% against previous quarter.
In Sep’16, 2.64 MnT iron ore was sold in Karnataka e-auctions against 1.93 MnT in Aug’16. Thus, iron ore sales at Karnataka e-auctions increased by 37% M-o-M in Sept’16.
NMDC’s iron ore sales at e-auctions increased by 16% M-o-M and stood at 1.19 MnT in Sept’16. 1.21 MnT was sold by private miners and 0.24 MnT iron ore, by Mysore Minerals in Sept’16 e-auctions.
JSW Steel’s iron ore purchases from Karnataka e-auctions increased by 42% M-o-M and were recorded at 1.79 MnT in Sept’16. Other major iron ore buyers in Karnataka e-auction last month were – MSPL and BMM Ispat.
Buyer-wise allotted quantity in Sept’16 e-auctions:
|
Company |
Fines | Lump |
Total |
| JSW Steel | 1,464,000 | 328,000 | 1,792,000 |
| MSPL | 124,000 | 124,000 | |
| BMM Ispat | 92,000 | 92,000 | |
| Janki Corp | 48,000 | 4,000 | 52000 |
| SLR Metaliks | 16,000 | 24,000 | 40,000 |
| Others | 113,000 | 422,000 | 535,000 |
| Total | 1,857,000 | 778,000 | 2,635,000 |
Qty in MT
Source: Karnataka DMG
Major highlights of Sept’16 Karnataka e-auctions :
1. Sponge grade lump fetched higher bids in Sept’16 e-auctions. For instance, Karnataka based Sunvik Steels procured lump (Fe 61%, 10-40 mm) offered by Sesa Sterlite at bid price of INR 2,147/MT against INR 1,447/MT in the e-auction held on 27 Sept’16
2. Gujarat based Electrotherm India procured 4,000 MT lump (Fe 64%) at INR 2,670/MT and 4,000 MT fines (Fe 64%) at INR 1,900/MT
3. NMDC’s base prices remained stable on monthly premises. Base prices for its Donimalai mines were as follows: lump (Fe 62.2%) – INR 1,927/MT and fines (Fe 60.2%) – INR 1,650/MT. For Kumaraswamy mines, base prices were as follows: fines (Fe 59.2%) was at INR 1,347/MT and for lump (Fe 63.6%), it was at INR 1,847/MT.
4. 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 within INR 2,125/MT. Base prices of Sesa Sterlite’s lump (Fe 60.5%) moved up slightly at INR 1,553/MT and fines (Fe 58.5%) was at INR 849/MT (basic)
5. Mysore Minerals’ base prices remained stable in Sep’16. Base prices for lump (Fe 56.1%) prices stood by INR 1,393/MT
6. SAIL (VISL) procured 12,000 MT lump (Fe 61-65%) by Sept’16 e-auctions
7. Few firms namely Reactive Metals of India and Sai Vijay Pragati Steel Udyog participated for the 1st time in Karnataka e-auctions
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