Vedanta subsidiary Electrosteel Steels Ltd (ESL) had scheduled an auction for the sale of fines and lumps (both Fe 58-60%) today from its Nadidih BICO and Feegrade Mines, Odisha. According to market sources, the entire quantity of 50,000 t fines was booked at around INR 1,200-1,250/t (inclusive of royalty) against the base price of INR 1,100/t while only 5,000 t of lumps were booked out of 40,000 t at the base price of INR 3,100/t. The offered quantity was lowered to 90,000 t at the time of auction against 240,000 t announced earlier.
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