There were limited buyers,
only around 37% for the iron ore e-auctioned on the 18th of December in the
state of Karnataka.
The major reason was that
low grade iron ore of Fe% below 40 to Fe% 51 was e-auctioned and a very small quantity of
the material was sold out in total.
The total
bid price was a percentage increase of 0.236% over the total value of floor
price.
UPDATED – Floor/Base price for Iron ore Fines was Rs 2,600/MT for Fe 64 and offers for Iron ore Lumps were quoted at around Rs 4,500/MT.
(Royalty
10%, VAT 5.5% (on auction price and royalty), FDT 12% are applicable).
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