India: DRCLO, lumps receive active response with 3-7% premiums in NMDC auction

NMDC auctioned 72,800 t of iron ore from its Bacheli mines, Chhattisgarh, on 8 May.

• Entire 21,500-t DRCLO (10-40 mm, Fe 67%) offered sold at 3.4% premium over base price (INR 7,270/t).
• 47,300-t Baila fines (Fe 64%) received no bids (base price was INR 5,550/t).
• 4,000-t Baila-sized lumps (10-20 mm, Fe 65.5%) sold at 7% premium over base price (INR 6,640/t).

Prices were on FOR, ex-stockpile/mines basis, including royalty, DMF, and NMET.