Steel major JSW Steel has scheduled an auction for 853,200 t of iron ore fines (Fe 53-55%) from its Jajang mines in Odisha on 22 Feb’22. The base price is INR 1,650/t ex-mines. In its last auction held for 900,600 t of iron ore fines on 16 Feb, bids were only received for 47,400 t at INR 2,200/t ex-mines including royalty, DMF and NMET. Bid-offer disparity amidst the recent decline in global iron ore prices may had resulted in the auction garnering a subdued response.
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