India: Recent Karnataka iron ore auctions fail to garner active response

  • Vedanta scheduled an auction for sale of 28,000 t of iron ore lumps, of which, only 4,000 t were booked at the base price of INR 3,891/t (excluding royalty, DMF and NMET).
  • Meanwhile, Sri Kumaraswamy Mineral Exports Pvt. Ltd. auctioned for sale of 136,000 t of iron ore fines which (Fe58.1-66%) failed to receive bids. Floor prices for fines were INR 2,300-3,700/t (including royalty, DMF and NMET).

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