India: Buyers book over 395,000 t iron ore in NMDC’s auction from Karnataka

NMDC had an auction for 396,000 t of iron ore on 6 Jul’24 from its Kumaraswamy mines.

• 144,000 t lumps (10-40 mm, Fe 59.03-63.33%) got booked at INR 4,326-5,466/t against the base price of INR 4,066-5,036/t
• 252,000 t fines (Fe 58.46-62.27%) got booked at INR 3,397-4,081/t against the base price of INR 3,337-4,071/t. Prices are on ex-mines basis, including royalty, DMF and NMET.
• Notably, bid prices for lumps and fines were higher by INR 430/t and INR 60/t, respectively.