- SAIL’s Bolani auction sees 100% booking
- CLO fetches higher premium amid firm demand
Steel Authority of India Ltd. (SAIL) witnessed strong participation in its iron ore auctions from Odisha on 18 September, with the entire 120,000 tonne (t) offered getting booked. The auction outcomes indicate sustained buying interest from end-users amid ongoing volatility in the domestic iron ore market.
At Bolani Mines, SAIL sold 60,000 t of CLO (10-40 mm, Fe 62%) at INR 6,975/t, marking a premium of INR 700/t over the base price of INR 6,275/t. The material was offered on a FOR loaded-into-rake basis, inclusive of royalty, DMF, NMET and applicable additional premium.
Meanwhile, 60,000 t of fresh fines (Fe 61%) was fully booked at INR 5,875/t, a premium of INR 350/t over the base price of INR 5,525/t. The price was also on a FOR loaded-into-rake basis, inclusive of statutory levies and applicable additional premium.
The 100% booking across both lots, coupled with premiums over the respective base prices, points to firm procurement interest for Bolani-origin material. The higher premium for CLO suggests relatively stronger buyer preference for calibrated ore, while the successful booking of fines also indicates continued demand for sintering feed.
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