India: Bids decline at iron ore auction by private miners in Karnataka

Bids inched down at the Karnataka iron ore e-auction conducted on 19 Aug’21 by private miners, as per reports. Auction highlights:

• The auction fetched bids for 220,291 t of iron ore out of 577,647 t.
• JSW Steel remained the largest buyer at 84,000 t followed by MSPL that booked around 36,000 t.
• Bids for iron ore fines (Fe 59%) offered by RMML (Iyli Gurunath Iron Ore Mine) decreased to INR 4,100/t as against INR 4,250/t at the previous auction conducted on 10 Aug’21.