India: U Krishna Prasad’s iron ore auction from Karnataka fails to attract buyers

U Krishna Prasad scheduled an auction for sale of around 8,000 t of iron ore fines (Fe61.58%) and 4,000 t of lumps (Fe61.78%) on 10 Oct’22 from its Dharmapura mines in Karnataka. However, the auction failed to fetch any response. The fines floor price was set at INR 3,100/t, while the floor price for lump was at INR 3,850/t. Prices included royalty, DMF and NMET.