India: NMDC Kumaraswamy’s iron ore auction fetches active response

NMDC witnessed active response at its 320,000-t iron ore auction from Kumaraswamy mines on 31 Dec’24. Bids for lumps and fines were higher by INR 680/t and INR 830/t, respectively.

• 96,000-t lumps (10-40 mm, Fe 61.06-61.67%) booked at INR 5,045-5,878/t against base prices INR 5,045-5,198/t.
• 224,000-t fines (Fe 57.90-61.69%) booked at INR 3,523-5,031/t against base prices INR 3,523-4,321/t.

Prices are on ex-mines basis, including royalty, DMF, NMET.