Steel major JSW Steel had scheduled an auction for 900,600 t of iron ore fines (Fe 54%) today from its Jajang mines in Odisha in which bids were received for 47,400 t offered at INR 2,200/t ex-mines including royalty, DMF and NMET. The auction was not for export purpose. Bid-offer disparity amidst the recent decline in global iron ore prices may have resulted in the auction garnering a subdued response.
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