JSW steel Ltd, India's second largest steel producer turned out to be the highest bidder for iron ore auctioned in Karnataka by MSTC held on 14th Sep 2102.
JSW bought almost 90,000 tonnes of iron ore fines and bids were comparatively higher from the previous auction said market participants.
Fe 63 iron fines was bid at Rs 2,900/t (Ex- plot prices excluding royalty and forest tax) where as Fe 60-61 fines was bid at around Rs 2,799 (Ex- plot prices excluding royalty and forest tax).
Market sources also report SteelMint that JSW steels buying iron ore aggressively from Odisha. Interestingly cost of procuring ore from Karnataka and Odisha turns out to be same.
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