- Bolani auction sees renewed buyer participation
- Full booking reflects healthy auction interest
SAIL’s Odisha iron ore auctions held on 28-29 September saw the entire 72,000 tonne (t) offered volume booked, indicating strong buyer participation. The auctions comprised fresh fines from Bolani mines and CLO material.
At Bolani, the entire 60,000 t of fresh fines (Fe 61%) was sold at INR 5,830/t ($61/t) on an FOR loaded-into-rake basis, inclusive of royalty, DMF, NMET and applicable additional premium. The material had remained unsold in the previous auction held on 22 September.
Meanwhile, 12,000 t of CLO (10-40 mm, Fe 62.40%) was booked at INR 6,800/t ($71/t) ex-mines, inclusive of royalty, DMF, NMET and applicable additional premium.
Despite the full booking, the fresh fines bid price was INR 45/t ($0.4/t) lower than the 18 September auction, indicating some moderation in buyer bids even as overall participation remained strong.
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