India: Karnataka iron ore e-auction sales rebound in Oct
Nov 13, 2019 10:00
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.
basis, Karnataka e-auction sales also moved up by 72% in Oct’19 as