India: Over 95% of iron ore left unsold at NMDC’s Chhattisgarh auction

NMDC auctioned 313,600-t iron ore from Chhattisgarh on 27 Nov’24, of which over 95% remained unsold.

• Bacheli: Of 47,300-t DRCLO (10-40 mm, Fe 67%), 12,900 t sold at INR 7,480/t (base price). 197,800-t fines (Fe 64%) and 4,000-t Baila-sized lumps (10-20 mm, Fe 65.5%) unsold.
• Kirandul: 64,500-t ROM (10-150 mm, Fe 65.5%) unsold.

In NMDC’s 21 Nov auction, only 8,000-t Baila lumps received bids; 313,600-t ore remained unsold. Prices include royalty, DMF, and NMET.