- Lumps premium remained stable as compare to previous auction
- Entire FOT fines volumes at Bacheli, Kirandul remain unsold
NMDC sold 96,300 tonne (t) of iron ore at its Chhattisgarh auctions held on 22 September, significantly higher than the 14,600 t sold in the previous auction on 11 September, as strong buying interest continued to support on fines procurement.
At Bacheli, the entire 6,000 t of Baila lumps (10-20 mm, Fe 65.5%) were sold at INR 6,250/t ($65/t), received a premium of INR 700/t ($7/t) against the base price of INR 5,550/t ($58/t). Lump bids remained stable on the previous auction. Meanwhile, 64,500 t of FOR fines was sold at the base price of INR 4,090/t ($43/t).
At Kirandul, 25,800 t of FOR fines was booked at the base price of INR 4,540/t ($47/t). However, demand remained selective for FOT material, with 46,000 t of FOT fines across Bacheli and Kirandul remaining unsold.
The strong uptake of FOR fines highlights continued procurement interest, while subdued participation in FOT material points to buyer sensitivity towards delivered costs.
Prices exclude royalty, DMF, and NMET.
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