- Weak downstream sentiment impacts SAIL fines auctions
- Tight CLO supply supports stronger bids in SAIL auction
SAIL conducted an auction for 40,000 t iron ore CLO (10-40 mm, Fe 62%) from its Bolani mines on 20 May’26. According to the sources, 32,000 t CLO got booked at INR 6,460/t. Prices were on FOR loaded into rake basis and included royalty, DMF, NMET, and additional premium.
However, 20,000 t dump fines (Fe 61.22%) auction from its Bolani mines received no bids from buyers and in which the base price was set at INR 4,200/t.
Similarly, in auctions conducted on 19 May 2026, SAIL offered 20,000 t of fresh fines (Fe 60.18%) and 20,000 t of dump fines (Fe 58.99%) from Bolani mines with base prices of INR 4,100/t and INR 4,000/t, respectively. Both auctions received no bids, highlighting cautious procurement sentiment and weak appetite for lower-grade fines material.
Earlier, on 18 May’26 12,000 t CLO (10-40 mm, Fe 61.36%) got booked at INR 5,700/t from Bolani mines.
The sharp rise in bids for CLO material was primarily attributed to limited availability in the market, which continued to support buyer interest despite the overall weak sentiment.
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