- Entire high-grade ore lot sold in auction
- Lower-grade lumps see partial bookings
Karnataka State Minerals Corporation Ltd (KSMCL) conducted an auction for 246,396 t of iron ore from Bellary, Karnataka, on 30 July. As per market sources, the entire offered volume was booked. Around 134,000 t of higher-grade fines (Fe 61.32-61.72%) and 112,396 t of lumps (10-40 mm, Fe 62.36-63.53%) from its SIOM mines were booked at INR 3,827-3,869/t on an ex-mines basis, excluding royalty, District Mineral Foundation (DMF), and National Mineral Exploration Trust (NMET).
A day earlier, on 29 July, KSMCL auctioned 246,095 t of iron ore from TIOM mines in Bellary on 29 Jul’26. As per sources, 126,500 t of lower-grade fines (Fe 55.04-57.59%) were booked at INR 2,327-2,840/t, while 26,000 t of lumps (10-40 mm, Fe 50.04-52.98%) were sold at INR 1,478-2,211/t. The higher realised prices in the latest auction reflected the superior iron ore grades offered from SIOM mines compared with the lower-grade material auctioned from TIOM mines.
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