Single buyer for Rudra Gouda's Iron ore on May 31'st e-auction

6-JUNE-2013, 12:40 IST

Rudra gouda mines located in the states of Karnataka offered 36000 MT of Iron ore lumps and fines on 31st of May through e-Auction at 11:00 IST. Total number of bids came 54 and the number of bidders was 7 and winners 5. Inspection of the material is to take place from 25^th of May to 30^th of May.

Detail of quantity offered

Iron ore lumps   24000 MT

Iron ore fines     12000 MT

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

Detail of quantity sold

IRON ORE FINES, Fe 62.5-63 %, Total Qty 12000 MT

MSPL LTD,                4000 MT, Booking Price 3000

KALYANI GERDAU, 8000MT, Booking Price 2990

Booking price was 11% more than floor price i.e. 2700

Iron ore lumps Fe, 58-60%, Total Qty 112000 MT

SHRI SKIV SHAKTI STEEL    4000 MT, Booking Price 2950

AND ALLOYS

Sold at floor price of 2950 MT

Iron ore lumps Fe 62-63%, Total Qty 12000 MT  

MUKAND LTD,       4000 MT, Booking Price 3990

KALYANI STEEL,     4000 MT, Booking Price 3990

KALYANI GERDAU,4000 MT, Booking Price 3990

Sold at floor price  of 3990 MT

Praveen chandra mines located in karnataka also offered 92000 MT of iron ore     lumps of higher grade but no bidder had shown there interest on the purchase of lumps.Rudra gouda mines had sold Iron ore lumps at floor price & the only bidder was shiv shakti steel & alloys.

There is 11% increase in the booking price over the floor price of iron ore fines. Total Percentage increase over the floor value is 2.9 %.