NMDC conducted two iron ore auctions today from Chhattisgarh. The first auction was for 126,000 t of Fe 64%-67% (indicative) grade material from its Bacheli mines, while the second was for 67,200 t of Fe 64-65.5% (indicative) grade ore from the Kirandul mines. According to sources, the auction failed to fetch any response. The steep drop in sponge and steel prices after the recent duty changes kept buyers away.
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