India’s state-owned steelmaker, Steel Authority of India Limited (SAIL) has sold over 1 mnt t of iron ore fines in the merchant market through auctions so far in FY’21, as per data maintained with SteelMint. Auctions have been conducted from its Odisha and Chhattisgarh mines. However, due to some awaited clearances from the Jharkhand state govt, auctions are yet to be conducted from Jharkhand.
In Sept’19, the Indian government took a decisive step in assuring the supply of raw material to the steel sector by allowing the Steel Authority of India Ltd (SAIL) to sell 25% of its total annual mineral production in the merchant market. In addition to it, the government of India also granted permission to sell 70 mn t of sub-grade minerals in the captive mines of SAIL. However, the company yet to receive permission for the sale of the iron ore dump from the respective state governments, officials informed in Sept’20 quarterly conference call.
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