In its second advance e-auction from Donimalai mines in the state of Karnataka, held on April 9, NMDC offered a total of 224,000 MT of iron ore and sold 212,000 MT.
Quantity offered: Fines 160,000 MT and lumps 64,000 MT
1st week April 12-18
Lumps 24,000 MT Fe% 63, Moisture 4-6%, Undersize Upto 10%
Fines 28,000 MT Fe% 61.5, Moisture 6-8%
2nd week April 19-25
Lumps 20,000 MT Fe% 63, Moisture 4-6%, Undersize Upto 10%
Fines 32,000 MT Fe% 61.5, Moisture 6-8%
3rd week April 26-May 2
Lumps 12,000 MT Fe% 63.0, Moisture 4-6%, Undersize Upto 10%
Fines 48,000 MT Fe% 61.5, Moisture 6-8%
4th week May 3-9
Lumps 8,000 MT Fe% 63.0, Moisture 4-6%, Undersize Upto 10%
Fines 52,000 MT Fe% 61.5, Moisture 6-8%
The bid price was an increase of 17.58% over the floor price. No. of bids 409, bidders 7 and winners 5.
Details of material sold: Fines 160,000 MT and lumps 52,000 MT
1st week April 12-18
Lumps 12,000 MT at Rs 4,102/MT
Fe% 63, Moisture 4-6%, Undersize Upto 10%
Floor price Rs 4,092/MT JSW
Fines 28,000 MT at Rs 2,904-2,914/MT
Fe% 61.5, Moisture 6-8%
Floor price Rs 2,304/MT
Sesa Goa 8,000 MT at Rs 2,914/MT and JSW 24,000 MT at Rs 2,904/MT
2nd week April 19-25
Lumps 20,000 MT at Rs 4,092/MT
Fe% 63, Moisture 4-6%, Undersize Upto 10% JSW
Fines 32,000 MT at Rs 2,944-2,954/MT
Fe% 61.5, Moisture 6-8%
Sesa Goa 8,000 at Rs 2,954/MT and JSW 24,000 MT at Rs 2,944/MT Floor price Rs 2,304/MT
3rd week April 26-May 2
Lumps 12,000 MT at Rs 4,092-4,102/MT
Fe% 63, Moisture 4-6%, Undersize Upto 10%
Floor price Rs 4,092/MT
JSW 8,000 at Rs 4,092/MT and Kalyani 4,000 MT at Rs 4,102/MT
Bid quantity by JSW was 12,000 MT
Fines 48,000 MT at Rs 2,904-2,914/MT
Fe% 61.5, Moisture 6-8%
Floor price was Rs 2,304/MT
Sesa Goa 4,000 MT at Rs 2,914/MT
JSW 40,000 MT Rs 2,914/MT
Sona Alloys 4,000 MT at Rs 2,904 Bid quantity was 8,000 MT
4th week May 3-9
Lumps 8,000 MT
Fe% 63, Moisture 4-6%, Undersize Upto 10%
Floor price Rs 4,092/MT
Sesa Goa 4,000 MT at Rs 4,112/MT
SBQ Steels 4,000 MT at Rs 5,002/MT
Fines 52,000 MT at Rs 2,904-2,914/MT
Fe% 61.5, Moisture 6-8% Floor price Rs 2,304/MT
JSW 40,000 MT at Rs 2,914/MT
Sona Alloys 8,000 MT at Rs 2,904/MT
Bid quantity by Sona was 12,000 MT
Sesa Goa 4,000 MT at Rs 2,914/MT
The quantity offered was quite less (by 55%) as compared to 496,000 MT of iron ore offered in the 1st advance e-auction, on March 8.
A senior NMDC official told SteelMint, “Not many reasons but the low buying interest for lumps in the 1st advance e-auction due to price difference in lumps (high) and fines (low) and Pellets being preferred by sponge iron units had resulted in offering of limited quantity this time.”
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