In Karnataka's latest e-auction conducted on 11th Oct 2012 for iron ore stocked at MEL, Sesa Goa and M/s Praveen Chandra. Bids were quite higher for high grade iron ore fines from pellet manufacturers including MSPL and BMM Ispat, said market participants in Karnataka.
MEL and M/s Praveen Chnadra were among the 18 'A' grade mines which got clearance from supreme court last month and both mines are know for producing high grade ore.
Fe 65 iron ore fines fetched as much as Rs 3,620/t (ex-plot, royalty and forest tax extra) where as Fe 66 fines booked at Rs 3,690/t (ex-plot, royalty and forest tax extra).These bids were made by MSPL and BMM Ispat (both use it for pellet manufacturing).
Other low grade stock of iron ore lumps was booked by sponge manufacturers based in Karnataka and Tamil Nadu.
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