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India: Karnataka iron ore e-auction sales rebound in Oct

Karnataka iron ore e-auction sales volume has rebounded for the month and registered an increase of 48% in Oct’19. Total iron ore allotted quantity was recorded at 2.82 MnT in Oct’19 compared to 1.91 MnT in Sept’19. This month sales stood the second-highest in this fiscal year after April’19 sales at 2.9 MnT.
In the month of Oct’19, few private miners of Karnataka reduced iron ore prices at around INR 200-250/MT. Vedanta - largest iron ore supplier in Oct'19 Karnataka auction lowered iron ore fines prices (Fe 58.5%) by around INR 230-240/MT in Oct’19. On yearly basis, Karnataka e-auction sales also moved up by 72% in Oct’19 as

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