Veerabhadrappa Sangappa and Company (VESCO) conducted an auction today for 16,000 t of iron ore fines (Fe 63.25%) and 4,000 t of lumps (Fe 64.50%) from the Dharmapuri mines in Karnataka. According to market sources, the auction failed to generate any response from buyers. The floor price for fines was INR 2,725/t and for lumps INR 3,850/t (excluding royalty, DMF and NMET).
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