Steel major JSW Steel had scheduled an auction for 853,200 t of iron ore fines (Fe 53-55%) today from its Jajang mines in Odisha in which bids were received for 19,750 t offered at INR 1,650/t ex-mines including royalty, DMF and NMET. The auction was not for export purpose. Bid-offer disparity amidst bearish sentiments for low-grade iron ore may have resulted in the auction garnering subdued response.
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