Govt-owned steelmaker-Steel Authority of India Ltd (SAIL) conducted an auction today from its Bolani mines in Odisha. The entire offered quantity 64,000 t iron ore fines (Fe 62.5%) received bids at INR 4,260-4,280/t (loaded, excluding Royalty). The company has received bids around INR 500/t above against INR 3,810-3,830/t (loaded into rakes and including royalty) held on 12th Feb’21 for a similar grade, SteelMint learned from sources. Tighter availability of higher-grade ore has resulted in increased bids.
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