NMDC’s iron ore auctioned in Karnataka e-auction held on 27 July’15 received decent response as bidders prefer high grade ore. JSW Steel remains the largest buyer.
Recent Karnataka iron ore e-auction held on 27 July’15 received decent response. Total 0.58 MnT iron ore was offered by NMDC Donimalai Mines, of which 0.21 MnT was Doni lump, 0.34 MnT was Doni fines and 0.02 MnT was low grade fines.
Out of the total quantity offered, 0.56 MnT was sold. Aggressive bidding was seen in this auction. 97% of the material offered in the e-auction was sold out. It has been assessed that high grade ore put under auction was preferred by the bidders. But, whole lots of low grade fines remained unsold.
Floor & bid prices for lump (Fe 62.5%) stood at INR 2,593/MT and bids received for fines (Fe 60%) stood at INR 1,172/MT, almost equivalent to base prices.
In the previous e-auction conducted on 04 July’15, 0.37 MnT iron ore from NMDC Donimalai Mines was offered. Out of the total, 0.34 MnT had been sold.
Bidder-wise Allotted Quantity
| Bidder Name | Fines | Lump | Total |
| JSW Steel | 248,000 | 204,000 | 452,000 |
| BMM Ispat | 48,000 | – | 48,000 |
| Gerdau Steel India | 20,000 | 8,000 | 28,000 |
| Srikalahasthi Pipes | 24,000 | – | 24,000 |
| Sona Alloys | 8,000 | – | 8,000 |
| Grand Total | 348,000 | 212,000 | 560,000 |
Qty in MT
Source: Karnataka DMG
Note: Grade & prices are weighted average
NMDC’s Total Karnataka Iron Ore Sales in July’15
In July’15, till now, NMDC’s Donimalai and Kumarswamy Mines have sold 1.3 MnT iron ore, out of which 0.48 MnT was from Kumarswamy Mines and 0.90 MnT was from Donimalai Mines.
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