- Around 400,000 t booked across major miners’ auctions
- Donimalai fines, lumps largely trade close to base prices
Around 400,000 tonnes (t) of iron ore was booked across auctions conducted by major miners in Karnataka on 11 September 2026, with premiums varying significantly across grades and products. High-grade Kumaraswamy ore attracted the strongest bidding, while Donimalai fines and lumps largely traded close to base prices.
NMDC Donimalai: NMDC offered fines for the first time in FY’27, with around 32,000 t of Fe 58% fines booked at INR 2,894/t (30/t), INR 40/t ($0.4/t) above the base price of INR 2,854/t ($30/t). Around 10-40 mm lumps with 54% Fe were booked at the base price of INR 2,239/t ($23/t) ex-mines, excluding royalty, DMF, and NMET.
Kumaraswamy sees aggressive bidding: At NMDC Kumaraswamy, around 136,000 t of fines with Fe content of 59.62-62.53% were booked at INR 3,068-5,524/t ($32-58/t), which was INR 40-1,930/t ($0.4-20/t) above the base prices of INR 3,028-3,594/t ($32-38/t). Around 124,000 t of 10-40 mm lumps with 60.27-61.50% Fe was booked at INR 4,204-6,155/t ($44-64/t), that is INR 470-2,130/t ($5-22/t) above the base prices of INR 3,734-4,025/t ($39-42/t) ex-mines, excluding royalty, DMF, and NMET.
The wide premiums on high-grade material indicate stronger competition for higher-Fe ore, particularly at Kumaraswamy.
R Praveen Chandra: R Praveen Chandra auctioned around 7,700 t of 6-30 mm lumps with 59.5% Fe. The material was booked at the base price of INR 5,800/t ($61/t) ex-mines, inclusive of royalty, DMF, and NMET.
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