Almost 13% iron lump sold in iron ore e-auction with fines remaining unsold.
Odisha Mining Corporation (OMC) had conducted an e-auction for 314,000 MT iron ore (250,000 MT lump and 64,000 MT fines) on 09 July’15. The material was offered from Daitari, Barbil and Koira Mines. The company received poor response and no buying interest was seen from major steel makers.
In the current round, out of the total quantity offered from Daitari Mines (120,000 MT Fe 62 iron lump and 60,000 MT Fe 62-64 iron fines), only 16,000 MT was sold. However, iron fines put under auction from Daitari Mines remained unsold. According to sources, major steel makers and sponge iron manufacturers did not show buying interest in the e-auction. The sold material was purchased by small manufacturers in a very less quantity.
130,000 MT of 10-40 mm Fe 62 grade material was offered from Koira Mines. Also, 4,000 MT iron fines of Fe 60-62% was offered from Barbil Mines. All the material offered from both the mines remained unsold.
Base Price Comparison of OMC Iron Ore E-Auction
| OMC Mines | Size (mm) | Fe(%) | Auction on 09 July’15 |
Auction on 17 Jun’15 |
Auction on 05 Jun’15 |
Auction on 25 May’15 |
Auction on 12 May’15 |
Auction on 02 Apr’15 |
| Barpada Kasia (Barbil) |
10-40 | 62 | – | — | – | 2500 | 3050 | 3,237 |
| 10-40 | 64 | – | – | – | – | – | – | |
| -10 | 62-60 | 1,500 | – | – | – | – | 1,500 | |
|
Gandhamardan
|
10-180 | 65 | – | – | – | 2,100 | 2,650 | 2,650 |
| 10-40 | 62 | – | – | – | 2,500 | 3,000 | 3,000 | |
| -10 | 62-60 | – | – | – | 1,432 | 1,520 | 1,520 | |
| -10 | 60-54 | – | – | – | – | 1,333 | 1,333 | |
| Kurmitar (Koira) |
10-40 | 62 | 2,900 | 3,200 | – | – | 3,200 | – |
| -10 | 56-52 | – | 900 | 900 | 900 | – | – | |
| -10 | 62-60 | – | 1,500 | – | – | 1,565 | – | |
| Daitari | 10-40 | 62 | 2600 | – | – | 2,600 | 3,000 | 3,000 |
| -10 | 64-62 | 1,700 | – | – | 1,700 | 1,900 | 2,200 | |
| -10 | 62-60 | – | – | – | 15,00 | 1,750 | 2,000 |
Ex-Mines Prices, including Royalty
* FOR Siding prices
E-auction floor prices in INR/MT
Source: SteelMint Research
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