India: SMIORE’s iron ore lumps auction from Karnataka receives weak response

SMIORE conducted an iron ore lumps auction for 28,000 t from Karnataka on 28 Jun’24.

• 3,000 t (5-20 mm, Fe 56.20%) were booked at base price of INR 5,340/t.
• 3,000 t (10-40 mm, Fe 55.7%) were booked at INR 4,580/t against the base price of INR 4,310/t.
• 6,000 t (20-40 mm, Fe 55.4-56.2%) were booked at INR 5,640-6,020/t against INR 4,740-5,140/t.
• Prices include royalty, DMF and NMET.