India: NMDC Kumaraswamy iron ore auction fetches premium bids

NMDC held an auction for 244,000 t of iron ore from its Kumaraswamy mine on 17 August, 2024.

• 116,000 t lumps (10-40 mm, Fe 58.73-64.28%) got booked at INR 3,813-5,721/t against the base price of INR 3,533-4,651/t.
• 120,000 t fines (Fe 59.12-63.59%) got booked at INR 3,089-4,729/t against the base price of INR 3,059-3,829/t.
• Bid prices for lumps and fines were higher by INR 1,070/t and INR 900/t, respectively.