Bids in NMDC’s recently conducted iron ore auction from Karnataka remained largely stable. Auction held on 16th Oct’20, fetched bids for 99,000t out of the total 110,000 t put to auction. JSW Steel Ltd stood the largest buyer at 76,000 t followed by VRKP Sponge and Power Plant LLp at 7,000 t. Bid prices in the auction stood almost stable over base price with an increase upto INR 30/t. No auctions were held in Karnataka in first two weeks in Oct’20 owing to technical issues.
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