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

NMDC held an auction for 220,000-t iron ore on 5 Nov’24 from its Kumaraswamy mines.

• 80,000-t lumps (10-40 mm, Fe 59.49-64.24%) booked at INR 5,203-6,680/t against base prices INR 4,653-5,840/t.
• 140,000-t fines (Fe 63.12-63.80%) booked at INR 5,492-5,520/t against base prices INR 4,622-4,765/t.

Prices were on ex-mines basis, including royalty, DMF, and NMET. Notably, bids for lumps and fines were higher by INR 840/t and INR 880/t.