India: NMDC’s Kumaraswamy iron ore auction fetches premium bids

NMDC had an auction for 224,000 t of iron ore on 3 Aug’24 from its Kumaraswamy mines.

• 48,000 t lumps (10-40 mm, Fe 64.04%) got booked at INR 5,766-5,776/t against the base price of INR 5,196/t.
• 176,000 t fines (Fe 59.25-64.42%) got booked at INR 3,999-5,235/t against the base price of INR 3,489-4,485/t.
• Bid prices for lumps and fines were higher by INR 580/t and 750/t, respectively.