India: SAIL’s iron ore auction from Chhattisgarh receives a limited response

Steel Authority of India Limited (SAIL) conducted an auction today (19th Mar’21) for 172,000 t iron ore fines from its Dalli mines in Chhattisgarh. Out of the total quantity offered, only 8,000 t (Fe 55.41 & 56.33%) received bids at INR 500-600/t (loaded, including Royalty). Lots with lower iron ore content failed to fetch bids, SteelMint learned from sources.