NMDC 7th advance e-auction conducted on 10th of September for Donimalai mines in Karnataka got a good response from the bidder. The total quantity offered 356,000MT is purchased by bidder.
There is 22% increase in the Booking price of Iron ore fines against the floor price whereas lumps sold on floor price.
Total number of Bids came for the auction is 724 out of which numbers of bidders are 11 and winners 10.
Details of quantity sold:
Iron ore lumps 124,000 MT
Iron ore Fines 232,000 MT
There is total increase of 10.91% in booking price against the floor price. Average price for Fe 60.5 Iron ore fines is about INR 2539 and Iron ore Lumps for Fe 62.5 is about INR 3698. Main bidders for iron ore are JSW Steel Ltd, Kalyani Gerdau Steels Ltd, Lanco Industries ltd
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