Steel Authority of India (SAIL) had scheduled an auction for 100,000 t iron ore fines from its Bolani iron ore mines today i.e 07th July’20. The auction failed to fetch bids by the bidders. The base price was set at INR 1,600/t (loaded to rake; Royalty, DMF, NMET & other taxes extra), as per sources.
Previously, in an auction conducted in June’20, SAIL’s Barsua iron ore mines in Odisha fetched bids for 20% of the fines (Fe 62.5%) i.e 20,000 t put to auction and it received bids at base price i.e at INR 1,420/t (loaded to rake; Royalty, DMF, NMET & other taxes extra).
SAIL has another upcoming auction from its Barsua mines for 100,000 t iron ore fines schedued on 16th July’20 .
SAIL has so far auctioned a total of 500,000 t from Bolani mines and 160,000 t from Barsua mines. Out of the total 660,000 t put to auction 260,000 t received bids. The bid prices have come down from INR 2,270-2,280/t received in earlier auctions to INR 1,300/t received in recent e-auction.
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