- India’s low-grade iron ore export market remained silent for another week post-the steep export duty. On the other hand, domestic Fe 57% fines prices were heard at INR 1,400/t ex-mines in Odisha.
- Vedanta’s subsidiary, Electrosteel Steels Ltd, recently scheduled an auction for iron ore fines on 5 Aug’22 from Odisha. According to market sources, 50,000 t (Fe57.50%) of iron ore fines were booked at around INR 1,250-1,300/t exw, including royalty, EMF and NMET charges.
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