Karnataka iron ore e-auction base price reduced by 10%

The ore-starved steel companies in Karnataka, which had complained of high base prices at the electronic auctions, have more than one reason to feel happy at the next round of e-auctions. The monitoring committee has not only lowered the base price for the next auction, scheduled for tomorrow, but also increased the availability of ore to two million tonnes (mt) from 1.5 mt during each of the past five auctions.

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