Steel Authority of India Limited (SAIL)-India’s largest steel producing company has started sourcing iron ore from Karnataka e-auctions for its Karnataka based special steel plant named – Visvesvaraya iron and steel limited (VISL).
SAIL (VISL) produces high quality alloy & special steels and pig iron. The steel plant has an installed capacity of 0.22 MnT of hot metal and 0.09 MnT of alloy & special steels.
In the Karnataka e-auction conducted yesterday (10 May’16), the steel maker has procured 8,000 MT lump (Fe 60%) offered by Sesa Sterlite at bid price of INR 1,311/MT (basic).
Prior to this in the e-auction conducted on 25 Apr’16, the steel maker had purchased 8,000 MT lump of same grade offered by Sesa Sterlite at bid price of INR 1,442/MT (basic).
Before procuring iron ore from Karnataka e-auctions the steel maker used to source iron ore for its VISL plant from its captive mines in Jharkhand.
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