Arcelor Mittal Nippon Steel India Ltd (AM/NS) conducted two iron ore auctions today from Odisha. The first auction was for 126,000 t fines (Fe 57-59%) from its Sagasahi mines while the second auction was for 40,000 t of fines (Fe 56-57%) from the Thakurani mines. According to sources, the entire quantity of 165,000 t of iron ore fines was booked at around INR 1,150-1,850/t against the base price of INR 1,050-1,550/t (including royalty, DMF).
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