- High-grade fines attract strong premiums
- Low-grade lumps see weak buyer response
NMDC’s Kumaraswamy auction in Karnataka on 1 October saw around 232,000 t of iron ore booked across fines and lumps. Around 148,000 t of fines (Fe 58.68-61.22%) were booked at INR 3,215-4,793/t ($33-50/t), with premiums of INR 150-1,020/t ($1.5-11/t) over base prices of INR 2,002-3,773/t ($21-39/t). The higher premiums indicate firm buying interest, particularly for high-grade material.
Around 84,000 t of 10-40 mm lumps (Fe 59.04-60.67%) were booked at INR 3,820-4,247/t ($40-44/t), against base prices of INR 3,134-4,237/t ($33-44/t), out of 92,000 t offered. All prices are ex-mines and exclude royalty, DMF and NMET.
In NMDC’s Donimalai auction on 30 September, 4,000 t of 10-40 mm lumps (Fe 53%) were booked at the base price of INR 1,989/t ($21/t) against 28,000 t offered, while the entire 40,000 t of Fe 58% fines was booked at the base price of INR 2,854/t ($30/t), ex-mines and excluding royalty, DMF and NMET.
Overall, over 270,000 t of iron ore were booked across both auctions, with firm demand for high-grade fines, while low-grade lumps received limited buying interest.
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