Through the first advance e-auction, w.e.f March 8, NMDC offered 496,000 MT of iron ore to steel industries based in Karnataka, from Donimalai mines.
336,000 MT of fines was sold out completely.
Out of 160,000 MT offered, 64,000 MT (40%) of lumps was purchased i.e. Week 1 (20%) and Week 2 and 3 (70%).
JSW was buyer of 68% of total fines offered i.e. 228,000 MT of fines and 25% of total lumps i.e. 40,000 MT.
An NMDC official says, “Price difference in lumps (high) and fines (low) is not allowing sales of lumps in good quantity.
Pellet is being preferred by most of the lumps users and sponge iron plants in South India cannot afford to carry expensive lumps”.
Details of material sold:
Week 1 (Mar 15-21)
No buyers for lumps
fines: 84,000 MT at Rs 2,360-2,370/MT (JSW 76,000 MT i.e. 90% at Rs 2,360/MT)
Week 2 (Mar 22-28)
lumps: 8,000 MT at Rs 4,458/MT
fines: 84,000 MT at Rs 2,360-2,370/MT (JSW 64,000 MT i.e. 76% at Rs 2,360/MT)
Week 3 (Mar 29-Apr 4)
lumps: 28,000 MT at Rs 4,458/MT (JSW 20,000 MT i.e. 71%)
fines: 84,000 MT at Rs 2,360-2,370/MT (JSW 44,000 MT i.e. 52% at Rs 2,360/MT)
Week 4 (Apr 5-11)
lumps: 28,000 MT at Rs 4,458/MT (JSW (71%) 20,000 MT)
fines: 84,000 MT at Rs 2,360-2,70/MT (JSW 44,000 MT (52%) at Rs 2,360/MT)
The bid price was a 0.1% increase over the floor price.
Of 29 bids, no. of bidders and winners were 8.
Royalty 10%, VAT 5.5% (on auction price and royalty), FDT 12% are applicable.
Quantity that was offered by NMDC:
Week 1 (March 15-21):
Lumps: 40,000 MT Fe% 63.5 Moisture 4-6%, Undersize Upto 10%
Fines: 84,000 MT% 62, Moisture 6-8%
Week 2 (March 22-28):
Lumps 40,000 MT Fe% 63.5, Moisture 4-6%, Undersize Upto 10%
Fines 84,000 MT Fe% 62, Moisture 6-8%
Week 3 (March 29-April 4):
Lumps 40,000 MT Fe% 63.5, Moisture 4-6%, Undersize Upto 10%
Fines 84,000 MT Fe% 62, Moisture 6-8%
Week 4 (April 5-11):
Lumps 40,000 MT Fe% 63.5, Moisture 4-6%, Undersize Upto 10%
Fines 84,000 MT Fe% 62, Moisture 6-8%
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