NMDC received good response on 28 May Iron ore e-auction

6-JUNE-2013, 16:00 IST

Donimalai &  Kumarswamy mines of NMDC  in Karnataka had offered iron ore of high grade through e-auction dated 28th may at 15:00 IST. The total number of bids receive is 49 out of which of which no of winner & bidders were 7 each. Total quantity offered for Bidding was 160000 MT.

Detail of quantity offered

IRON ORE LUMPS                 40000 MT (Donimalai mines)

CALIBRATED LUMPS ORE  80000 MT (Kumar swamy mines)

IRON ORE FINES                   40000 MT (Kumar swamy mines)

Royalty 10%, VAT 5.5% (on auction price and royalty), are applicable.

 Detail of quantity sold

Iron ore lumps, Fe 62.5%, Total Qty 20000 MT

Company: –           BID QTY     QTY Allotted     Floor Price    Booking price

JSW STEEL LTD              8000             8000                  4033             4043

SESA GOA                       4000             4000                  4033             4043

JSW STEEL LTD             12000           8000                  4033              4043

Iron ore lumps, Fe 62.3%, Total Qty 20000 MT

Company: –           BID QTY     QTY Allotted     Floor Price    Booking price

SESA GOA                     4000             4000                    4009            4019

JSW STEEL LTD            4000             4000                    4009            4019

ELECTROTHERM         4000             4000                    4009            4019

JSW STEEL LTD           12000             8000                   4009            4009

Calibrated lumps ore, Fe 63%, Total Qty 40000 MT

Company: –            BID QTY     QTY Allotted     Floor Price    Booking price

JSW STEEL                       36000          36000                 3892               3902

SATHAWAHANA ISPAT       4000             4000                   3892              3892

Calibrated lumps ore, Fe 65%, Total Qty 40000 MT

Company: –            BID QTY     QTY Allotted     Floor Price    Booking price

JSW STEEL             20000          20000                    4130                 4130

SBQ STEEL                   4000           4000                     4130                 4130

Iron ore fines, Fe 61%, Total Qty 20000 MT

Company: –           BID QTY     QTY Allotted     Floor Price    Booking price

SATHAVAHANA ISPAT  8000            8000                 2035               2215

JSW STEEL                       16000              12000            2035                2205

Iron ore fines, Fe 62%, Total Qty 20000 MT

Company: –              BID QTY     QTY Allotted     Floor Price    Booking price

JSW STEEL                     16000           16000                2160                2170

XINDIA STEELS LTD          8000              4000                  2160                  2160

Donimalai &  Kumarswamy mines got a good response from the bidders. The total quantity of lumps Offered by donimalai mines were sold. 80% of the lumps are sold above the floor price that is 0.2%.

80% of calibrated lumps ore & 100% of iron ore fines offered by the kumarswamy mines were sold. Main bidder for iron ore lumps & calibrated lumps ore was JSW STEEL. Total quantity of iron ore fines were sold the main bidder wasJSW STEEL & SATHAVAHANA ISPAT.

In the bidding process the total increase in the floor price of iron ore fines is about 4.3%. The total Percentage increase over floor value is 0.85 %.