Bangalore, India
In last e-auction conducted in Karnataka by MSTC fetched bids at almost similar levels.Sources say that there are limited buyers participating on high base price and inconsistent quality.Also low grade iron ore are not attracting many buyers.
“Steel makers are more keen to bid for high grade iron ore.In last E-auction conducted on 11th September noticed many low grade iron ore went unsold. In a lot of 68,000 metric tonnes of 56 percent iron lump, only 8000 metric tonnes could get buyer at a price of Rs 2,060/t (Basic, royalty and taxes of 27% extra).” said a local sources based in Bellary Karnataka.
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