JSW Steel had scheduled an auction for 395,000 t of iron ore lump (10-30mm, Fe 57-58%) today from its Jajang mine in Odisha, with the floor price at INR 3,450/wet metric tonne (WMT) ex-mines (including royalty, DMF and NMET). As per sources, the auction failed to fetch any response. Mills are seen deferring iron ore buying on expectations of further price drop and lower capacity utilisation.
Leave a Reply