India: Around 70,000 t of iron ore booked in SAIL’s auction from Odisha

• 72,000 t booked in auction against 76,000 t offered
• Bolani CLO demand stays firm, though bids inch down

SAIL’s Odisha iron ore auctions on 26 September saw 72,000 tonnes (t) booked against 76,000 t offered, indicating strong participation.

At Bolani mines, the entire 16,000 t of iron ore dump fines (Fe 60.22%) was sold at INR 5,230/t ($55/t) on an ex-mines basis, inclusive of royalty, DMF, NMET and applicable additional premium. The material remained unsold in the previous auction held on 22 September.

Meanwhile, 56,000 t of the 60,000 t iron ore CLO (10-40 mm, Fe 62%) offered was sold at INR 6,465/t ($67/t) on an FOR loaded-into-rake basis, inclusive of royalty, DMF, NMET and applicable additional premium.

The CLO bid price was INR 510/t ($5/t) lower than the previous auction held on 18 September, indicating some moderation in buyer bids despite the overall strong participation in the latest auction.