NMDC sold only 5% of total lumps offered through Apr 16 e-auction

NMDC offered a total of 132,000 MT of iron ore from its Kumarswamy mines based in the state of Karnataka, on April 16.

The material offered in e-auction included both iron ore fines as well as calibrated lump ore.

Quantity that was offered:

Iron ore fines: 52,000 MT

Calibrated lump ore: 80,000 MT

Royalty 10%, VAT 5.5% (on auction price and royalty), FDT 12% are applicable.

The bid price was a 12.12% increase over the floor price. No. of bids  53, no. of winners 2 and no. of bidders 4.

Details of quantity sold:

JSW purchased total fines

Calibrated lumps:

4,000 MT Fe% 64 at Rs 4,011/MT, offered quantity was 40,000 MT

Fines:

24,000 MT Fe% 61 at Rs 2,505/MT, floor price was Rs 2,035/MT

28,000 MT Fe% 62 at Rs 2,300/MT, floor price was Rs 2,160/MT