India: Entire DRCLO and size ore quantum offered booked in NMDC Chhattisgarh auction

NMDC auctioned 358,300-t iron ore from Chhattisgarh on 25 Feb’25:

• Bacheli: The entire 34,400-t DRCLO (10-40 mm, Fe 67%) offered was booked at INR 7,130/t (base price and bids were similar to previous auction). The entire 10,000-t of *Baila-sized lumps (10-20 mm, Fe65.5%) received 1.7% premium over the base price of INR 6,500/t while 193,500-t fines (Fe 64%) were unsold.
• Kirandul: 120,400-t ROM (10-150 mm, Fe 65.5%) remained unsold.
• Prices are on FOR, ex-stockpile/mines basis, including royalty.

*Correction: Size ore (10-20mm) material was also booked in the NMDC auction which was previously written unsold.