India: Bids rise by around INR 1,100 ($15) in SAIL’s iron ore auction from Bolani mines

Steel Authority of India Ltd (SAIL) has concluded an auction for 72,000 t iron ore fines (Fe 62.5%) from its Bolani mines in Odisha today. The auction received bids at INR 5,540-5,550/t (loaded into rakes and excluding royalty), SteelMint learned from its sources. The bid price has increased by INR 1,140-1,150/t against base price at INR 4,400/t.