India: Over 50,000 t of fines receive bids in NMDC Chhattisgarh iron ore auction

NMDC Chhattisgarh auctioned 193,200-t iron ore from its Bacheli mines on 29 May.

• Of 189,200-t Baila fines (Fe 64%), around 51,000 t were sold at base price INR 5,550/t. Notably, in the last 4-6 months, for the first time, iron ore fines received bids.
• Entire 4,000-t lumps (10-20 mm, Fe 65.5%) were booked at base price INR 6,640/t.

Prices were on FOR basis, inclusive of royalty, DMF, and NMET.