India: NMDC Kumaraswamy iron ore auction fetches premium bids

NMDC held an auction for 320,000 t of iron ore on 31 Aug’24 from its Kumaraswamy mines.

• 96,000 t lumps (10-40 mm, Fe 64.74-65.04%) were booked at INR 5,844-5,964/t against base price of INR 4,744-4,804/t.
• 216,000 t fines (Fe 59.95-65.94%) were booked at INR 3,212-5,384/t against base price of INR 3,202-4,234/t. Prices were on ex-mines basis.

Bid prices of lumps and fines were higher by INR 1,220/t and 1,150/t, respectively.