BigMint’s Odisha Fe 62% iron ore fines assessment increased by INR 50/tonne (t) ($0.5/t) w-o-w to around INR 5,550/t ($57.6/t) ex-mines in the week ending. The rise was driven by restricted availability and firm offers, although buyers remained reluctant to procure at elevated levels. AIL’s Odisha iron ore auctions held during 26-29 September saw strong buyer participation, with around 144,000 t booked across the auctions. In the 26 September auction, 72,000 t was booked against 76,000 t offered, including 16,000 t of Bolani dump fines (Fe 60.22%) at INR 5,230/t ($54.3/t) ex-mines and 56,000 t of CLO (Fe 62%) at INR 6,465/t ($67.1/t) FOR loaded-into-rake. The CLO bid was INR 510/t ($5.3/t) lower than the previous 18 September auction, indicating some moderation in bids.
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 following sheet summarises confirmed trades /offers of iron and steel products collected by BigMint to help our users keep track of day-to-day trade dynamics.
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