Vedanta subsidiary Electrosteel Steels Ltd (ESL) had scheduled an auction for sale of around 400,000 t of iron ore fines (Fe57.5% and Fe59.5%) on 2 Aug’22 from its Nadidih BICO and Feegrade mines in Odisha’s Keonjhar district. The floor price for Fe 57.5% grade was at INR 1,500/t and for Fe 59.5% was at INR 2,100/t (including royalty, DMF and NMET charges). According to market sources, the auction failed to receive any response.
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