Vedanta subsidiary Electrosteel Steels Ltd (ESL) had scheduled an auction for the sale of around 70,000 t 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 of fines was booked at around INR 1,550-1,600/t ex-mines (including Royalty, DMF & NMET) against the base price of INR 1,550/t. Only 6,000 t of lumps was booked out of 20,000 t at the base price of INR 2,800/t. The offered quantity was lowered to 70,000 t at the time of auction as against 120,000 t announced earlier.
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