India: Bids for DRCLO remain stable, for Baila lumps rise at NMDC Chhattisgarh’s iron ore auction

NMDC auctioned 431,400-t iron ore from Chhattisgarh on 29 Jan’25:

• Bacheli: Of 73,100-t DRCLO (10-40 mm, Fe 67%), 51,600-t booked at INR 7,130/t (base price, same bids at previous auction); entire 10,000-t Baila-sized lumps (10-20 mm, Fe 65.5%) booked at INR 6,630/t (INR 6,500/t base price, bids of INR 6,615/t previously); 215,000-t fines (Fe 64%) unsold.
• Kirandul: 133,300-t ROM (10-150 mm, Fe 65.5%) unsold.

Prices on FOR, ex-stockpile/mines basis, including royalty.