India: Vedanta’s pellet auction from Karnataka fails to fetch response

Vedanta scheduled an auction for sale of 1,000 t of iron ore pellets (Fe61.5%, 6-16mm) on 29 Sept’22 from Koppal, Karnataka on “as is where is basis”. According to market sources, the auction failed to receive bids. Limited demand for direct reduced iron (DRI) in the region resulted in lack of buying interest in the auction, SteelMint notes.