India: Around 1.3 mnt of iron ore booked at NMDC’s recent Karnataka auction

NMDC conducted around 1.3 mnt of iron ore auction from Karnataka’s Donimalai and Kumaraswamy mines on 7 Mar’23.

• 228,000 t of lumps (10-40mm, Fe61%) and 372,000 t of fines (Fe59%) were booked at INR 3,301/t and INR 2,872/t respectively from Donimalai.
• 310,000 t of lumps (10-40mm, Fe59.5-65.73%) and 388,000 t of fines (Fe58.22-64.74%) were sold at INR 2,892-3,752/t and INR 2,566-3,321/t respectively from Kumaraswamy.
• Prices exclude royalty, DMF, and NMET.