Steel Authority of India (SAIL) had scheduled auction for 100,000 MT iron ore fines from its Bolani iron ore mines today i.e 05th June’20. The miner fetched bids for 40% of the fines (Fe 62.5%) put to auction and it received bids at INR 1,500/MT (loaded to rake; Royalty, DMF, NMET & other taxes extra). The auctions were getting extended due to COVID-19.
* Another iron ore auction of SAIL from Barsua mines is scheduled to be held on 9th June for 100,000 MT iron ore fines.
* Previously, an auction conducted towards mid of May’20 from Bolani mines received a similar response and 40,000 MT of fines (Fe 62.5%) out of 100,000 MT was booked at INR 1,300/MT (loaded to rake, Royalty, DMF, NMET & other taxes extra).
* Last week, few deals concluded by Odisha based traders for fines (Fe 63%) from other merchant miners were reported at INR 2,000/MT ex-mines, including Royalty, DMF & NMET.
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