- Entire 240,000 t of lumps, fines offered by NMDC fetch bids
- SMIORE records partial bookings for lower-grade lumps
Karnataka-based iron ore miners conducted auctions for 357,410 t on 31 July. Of this volume, Sandur Manganese and Iron Ores Limited auctioned 117,410 t ore. Around 17,000 t (10-40 mm, Fe 54.8-57.2%) and 21,320 t (5-20 mm, Fe 52.7-54.9%) lumps were booked at INR 3,325-4,505/t and 2,510-3,280/t, respectively. Additionally, 11,000 t (20-40 mm, Fe 55.4-57.6%) of lumps fetched bids at INR 4,040-4,933/t.
From NMDC’s Kumaraswamy mines, 120,000 t of higher-grade lumps (10-40 mm, Fe 60.21-62.38%) were booked at INR 3,908-4,414/t and 120,000 t of fines (Fe 59.76-62.16%) were sold at INR 3,316-3,853/t, against base prices of INR 3,878-4,414/t and INR 3,176-3,660/t, respectively.
Prices are on ex-mines basis, excluding royalty, District Mineral Foundation (DMF), and National Mineral Exploration Trust (NMET).
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