Steel manufacturers based in Karnataka bid at same levels for iron ore auctioned by MSTC on 5th September 2012, reported local sources.
“Buying interest has been limited in e-auction. Big manufacturers like JSW, BMM, Kirloaskar ,Kalyani, Mukand and Janki corp are only buyers as other small and medium steel plants complaint of high prices, inferior quality and low demand for sponge iron (DRI). ” said Mr K.V. Reddy, a steel trader based in Karnataka, India.
Bids were almost at same levels as JSW bought 63% Fe fines at around Rs 2700-2800/t (Ex mines, royalty and taxes extra) which were at same levels in last auction conducted on 28th August 2012,where as iron ore bought by Kalyani and BMM were also at same levels, he further added.
Next auction will be on 11th September 2012.
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