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

NMDC’s 248,000-t iron ore auction on 24 Oct’24 from the Kumaraswamy mines attracted premium bids.

• 100,000-t lumps (10-40 mm, Fe 59.58-64.47%) booked at INR 5,215-6,387/t against base prices of INR 4,605-5,897/t.
• 148,000-t fines (Fe 54.89-63.91%) booked at INR 2,919-5,478/t against base prices of INR 2,889-4,788/t (prices on ex-mines basis, including royalty, DMF, and NMET).

Bid prices of lumps and fines were higher by INR 750/t and 690/t, respectively.