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Bidders Quote Twice The Base Price For Iron One Mines Amid Price Slump
Even as domestic iron ore prices fall, India’s steelmakers have quoted double the reserve price on an average to acquire mines.
01 Oct 2021, 09:40 AM IST
Even as domestic iron ore prices fall, India’s steelmakers have quoted double the reserve price on an average to acquire mines in the ongoing auctions.The second phase of auctions by the Odisha government for 10 mines has seen an average premium of 107%, according to data available on the state government’s website and SteelMint. While that’s lower than 133% in the first phase of the auctions in which 19 mines were available, it’s st...
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