MSTC to hold the next e-acution of iron ore on 6th Jan
& 7th Jan, 2012. The auctions are schedule to begin at 3.00- 5.00
pm with lots 35 & 36.
1.7 million tonne will be auctioned tomorrow and day after
tomorrow put together.
According to RK Goyal, managing director of Kalyani Steel, “the prices, which were still
high in the last auction and we are not keen to buy because it does not make
sense to buy iron ore at that price and make our product at a competitive cost
to be able to sell profitably”.
“Moreover, problems are in calibrated ore, which companies
like us can use as we do not have sinter plant as of now. We would not
participate at the levels of last auction. I don't expect prices to be much
lower than the previous auctions tomorrow”, he added
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