Steel Authority of India Ltd (SAIL) conducted an auction today for 40,000 t of iron ore fines (Fe 62.5%-indicative) from its Bolani iron ore mines in Odisha. The company received bids for the entire material at INR 5,950-6,000/t (including royalty, DMF and NMET), down INR 840/t against the last auction on 24 Feb. Drop in pellet prices resulted in low bids for iron ore, SteelMint notes.
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