India: NMDC’s iron ore auction from Karnataka fetches decent premium

Karnataka iron ore auctions recorded bookings of nearly 216,000 t.

• NMDC Kumaraswamy (13 Aug): 60,000 t of lumps (10-40 mm, Fe 60.63-61.27%) fetched premiums of 7-9% over the base price of INR 4,671-4,857/t, while 96,000 t of fines (Fe 57.84-60.21%) was booked at 3-3.2% premium against INR 3,278-3,839/t.
• SMIORE (14 Aug): 49,000 t (5-40 mm, Fe 51.5-57.5%) at INR 2,340-5,400/t and 10,000 t fines (Fe 57.6-58.6%) at INR 3,500-4,070/t.

Prices include royalty, DMF, and NMET.