JSW Steel Ltd, the largest producer in India, continues to be the largest buyer of iron ore at e-auctions in Karnataka. The company, which runs a 10-million-tonne steel plant in Karnataka, has picked up 926,000 tonnes of iron ore (with an iron grade of 62 per cent), about 41 per cent of the ore auctioned at the fifth round of e-auctions held yesterday and on Friday in Karnataka.
“Despite high base prices fixed for the iron ore at Karnataka e-auctions, we purchased iron ore fines with 62 Fe grade. However, problems related to transportation of ore from the respective mines to our plant at Toranagal continues, due to the strict timings set by the monitoring committee,†Vinod Nowal, director and CEO, JSW Steel.
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