JSW Steel had scheduled an e-auction today through MSTC for 500,000 t iron ore lumps. The auction received flat bids with nearly 60% material getting booked, SteelMint learned. Out of the 250,000 t high-grade iron ore lump (10-30mm, Fe 62%) put under the hammer from Nuagaon mines, 248,000 t was booked at close to base price INR 5,510/t. Out of the 250,000 t iron ore lump (10-30mm, Fe 58%) offered from Jajang mines, only 60,000 t was booked at INR 4,000/t (ex-mines, inclusive of Royalty).
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