NMDC's iron ore lumps sales improves in Apr 24 e-auction 

From its Donimalai and Kumarswamy mines based in the state of Karnataka, NMDC offered a total of 196,000 MT of iron ore.

Details of the quantity offered:

Donimalai mines:

60,000 MT of iron ore lumps

Kumarswamy mines:

80,000 MT of Iron ore calibrated lumps

56,000 MT of Iron ore fines (including  4,000 MT of Low grade material)

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

The bid price was a 1.65% increase over the floor price.

No. of bidders and winners were 7 and 5. No. of bids was 66.

NMDC sold the entire quantity of fines (including low grade) and calibrated lumps and 67% of total lumps offered at booking price equal to floor price.

Only low grade fines was sold at booking price higher than the floor price set.

JSW purchased total lumps, 55% (44,000 MT) of total calibrated lumps, 69% (36,000 MT) of fines and entire low grades offered.

Details of quantity sold:

Lumps

20,000 MT 62.7 at Rs 4,057/MT (JSW)

20,000 MT Fe% 63.8 Rs 4,188/MT (JSW 16,000 MT)

Calibrated lumps

40,000 MT Fe% 63 at 3,892/MT (JSW 20,000 MT) Total allocated was only 24,000 MT

40,000 MT Fe% 64 at Rs 4,011/MT (JSW 24,000/MT)

Fines

20,000 MT Fe% 61 at Rs 2,405-2,415/MT Floor price Rs 2,035/MT (JSW 16,000 MT at Rs 2,405/MT, had bid for 20,000 MT)

32,000 MT Fe% 61 at Rs 2,035/MT (JSW 20,000 MT)

Low grade fines

4,000 MT Fe% 57 at Rs 1,665/MT Floor price Rs 1,535/MT (JSW)

In the earlier e-auction from Kumarswamy mines, on April 16, NMDC sold only 5% out of 80,000 MT of total lumps.

The total quantity of fines offered was purchased by JSW.

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