From its Donimalai mines, NMDC offered 504,000 MT of Iron ore in 3rd advance e-auction, on May 7. It sold 104,000 MT (83%) of total offered quantity.
In comparison to 2nd advance e-auction, , the floor price for lumps was down by 2.9% and of fines by 5.4%.
Quantity offered: Fines 312,000 MT and lumps 192,000 MT; Quantity sold: Entire Fines and 54% of total lumps 104,000 MT
“Sponge iron market is already is in a bad state and the landed cost for NMDC's lumps is about Rs 5,000/MT and above. We are unable to procure lumps in good quantities as it is highly impacting our margins, by raising our production cost.
We are ok with purchasing of NMDC's fines“, remarked steelmakers in Karnataka.
The bid price was a 1.96% increase over the floor price. No. of bidders and winners were equal at 9 and no. of bids received 89.
1st week May 10-16
Lumps 52,000 MT Fe% 62, Moisture 4-6%, Undersize Upto 15%
JSW and Sesa Goa 8,000 MT each at Rs 3,973/MT (Floor/Booking price)
Fines 60,000 MT Fe% 60.5, Moisture 6-8% (Floor price Rs 2,179/MT)
Sesa Goa 12,000 MT Rs 2209/MT
Electrotherm 4,000 MT Rs 2,209/MT
JSW 44,000 MT Rs 2,199/MT (had bid for 56,000 MT)
2nd week May 17-23
Lumps 40,000 MT Fe% 62, Moisture 4-6%, Undersize Upto 15 (Floor/Base price Rs 3,973/MT)
JSW 24,000 MT, Kalyani and Sesa Goa 4,000 MT each
Fines 72,000 MT Fe% 60.5, Moisture 6-8% (Floor price Rs 2,179/MT)
BMM, Sesa Goa 8,000 MT and Sona Alloys 4,000 MT at Rs 2,189/MT JSW 52,000 MT at Rs 2,179/MT
3rd week May 24-30
Lumps 56,000 MT Fe% 62, Moisture 4-6%, Undersize Upto 15% (Floor/Booking price Rs 3,973/MT)
JSW 20,000 MT, Sesa Goa 8,000 MTand Kalyani 4,000 MT
Fines 84,000 MT Fe% 61.5, Moisture 6-8% (Floor price Rs 2,179/MT)
SBQ 4,000 MT at Rs 2,209/MT
JSW 64,000 MT, BMM 8,000, Sona and Sesa Goa 4,000 MT (had bid for 12,000 MT) At Rs 2,199/MT
4th week May 31-June 6
Lumps 44,000 MT Fe% 62, Moisture 4-6%, Undersize Upto 15% (Floor/Booking price Rs 3,973/MT)
JSW 20,000 MT and SBQ 4,000 MT
Fines 96,000 MT Fe% 60.5, Moisture 6-8% (Floor price Rs 2,179/MT)
SBQ (Rs 2,379/MT), Sona and BMM 4,000 MT, JSW 72,000 MT, MSPL 12,000 MT (had bid for 16,000 MT) at Rs 2,359/MT.
Royalty 10%, VAT 5.5% (on auction price and royalty), FDT 12% are applicable.
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