India: Karnataka Iron Ore E-auction Sales Fall 7% in Feb'18
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Monthly iron ore sales volumes in Karnataka e-auctions has registered a decline of 7% M-o-M in Feb'18. Total iron ore allotted quantity stood at 1.92 MnT in Feb'18 compared to 2.06 MnT in Jan'18.
NMDC iron ore sales decreased by 10% in Feb'18- NMDC's iron ore sales decreased by 10% M-o-M to 0.83 MnT in Feb'18 compared to 0.92 MnT in Jan'18. NMDC Kumarswamy recorded a decrease in its sales volume by 14% to 0.41 MnT in Feb'18 compared to 0.48 MnT in Jan'18 while sales from NMDC Donimalai mines decreased by 5% to 0.424 MnT in Feb'18 compared to 0.448 MnT in Jan'18.
JSW Steel's iron ore sourcing from Karnataka up by 4% -JSW Steel's iron ore purchases from Karnataka e-auctions stood at 1.32 MnT in Feb'18 up marginally by 4% M-o-M compared to 1.27 MnT in Jan'18. Out of 1.32 MnT, NMDC supplied 0.71 MnT iron ore via e-auction in Feb'18, a fall of 4% as against 0.74 MnT in Jan'18.
Buyer-wise allotted quantity of Feb'18 iron ore e-Auctions-:
| Company | Fines | Lumps | Grand Total |
| JSW Steel Ltd | 9,64,000 | 3,53,000 | 13,17,000 |
| BMM Ispat | 1,08,000 | - | 1,08,000 |
| MSPL Ltd | 1,00,000 | - | 1,00,000 |
| Gerdau Steel India Limited | 20,000 | 20,000 | 40,000 |
| Rai Bahadur Seth Shreeram Narasing Das Pvt. Limited | 24,000 | 8,000 | 32,000 |
| Others | 80,000 | 2,46,000 | 3,26,000 |
| Grand Total | 1,296,000 | 627,000 | 1,923,000 |
Qty in MT
Source: Karnataka DMG
Major highlights of Feb'18 Karnataka iron ore e-auctions:
1. NMDC has rollover iron ore prices for Feb'18 deliveries. For NMDC Kumaraswamy mines base prices were- fines (Fe 62.7%) - INR 3,237/MT and lump (Fe 64%) - INR 3,559/MT. Base prices in Feb'18 for NMDC Donimalai fines (Fe 60.2%) stood at INR 2,851/MT and lump (Fe 62.5%) - INR 3,355/MT (basic prices).
2. Gujarat based steel maker - Electrotherm purchased 4,000 MT Fe 65% grade lumps at INR 3,880/MT (basic).
3. R. Praveen Chandra stood 2nd highest supplier after NMDC and supplied 0.13 MnT iron ore in Feb'18, about 10% of total iron ore purchased by JSW via e-auction.
4. Vedanta procured 8,000 MT Fe 64% and 64.5% grade lumps from private miners at the bid price of INR 3,760-4,030/MT (basic).
5. Jeevaka Industries procured 4,000 MT lump (Fe 60.6%) from SMIORE at INR 3,060/MT (basic).
