India: NMDC sells over 500,000 t of iron ore at Donimalai auction

The entire material on offer was booked at NMDC’s 540,000 t iron ore auction from the Donimalai mines held on 8 Dec’21. Highlights:

• JSW Steel Ltd. was the largest buyer at 320,000 t followed by BMM Ispat Ltd. at 120,000 t.
• The iron ore lumps (Fe 61%) lot was booked at INR 3,724-3,734/t (basic, taxes extra), down INR 920/t compared to the previous auction on 9 Nov.