Metal Scrap Trade Corporation (MSTC) has declared the e-auction results of NMDC’s 11th advance e-auction held on 13 Jan, 2014. There is an overall increase of 5.12% in Iron ore prices over the floor prices.
The total quantity of 412,000 MT Iron ore offered in e-auction was sold. JSW Steel was the key buyer in e-auction with 196,000 MT Iron ore purchased. Iron ore Fines price in the e-auction was increased by 15% over the floor price, whereas lumps sold on floor price in e-auction.
Iron fines prices in comparison to 10th advance e-auction were decrease by 37%. Average Iron ore Fines price for Fe 60 grade in 11th advance e-auction was INR 2,580/MT, whereas Iron ore Lumps Price for Fe 62.5 grade in the e-auction was INR 3,965/MT.
Details of Iron ore sold:
Iron ore Lumps: 212,000 MT
Iron ore Fines: 200,000 MT
The main buyer of Iron ore Fines was JSW with 96,000 MT, followed by MSPL 28,000 MT. In the auction, 100,000 MT Lumps were purchased by JSW.
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