- Strong end-user participation lifts SAIL Odisha auction bookings
- Barsua material attracts firm demand, Bolani dump fines remain unsold
Steel Authority of India Ltd. (SAIL) witnessed strong participation in its iron ore auctions from Odisha on 23 September, with the entire 64,000 tonnes (t) offered getting booked. The auction outcomes indicate sustained buying interest from end-users amid ongoing volatility in the domestic iron ore market.
At Barsua Mines, 32,000 t of CLO (10-40 mm, Fe 60%) were fully sold at INR 5,600/t ($58/t), while another 32,000 t of fresh fines (Fe 59.5%) was booked at INR 5,150/t ($54/t). Both prices were on a FOR loaded-into-rake basis, inclusive of royalty, DMF, NMET, and applicable additional premium.
However, demand remained weak for Bolani dump fines, with the 16,000 t lot (Fe 60.22%) receiving no bids at a base price of INR 5,350/t ($56/t) ex-mines in the 22 September auction.
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