India: NMDC’s Donimalai iron ore auction receives decent response

NMDC had an auction for 48,000 t of iron ore on 26 Nov’24 from its Donimalai mines.

• 12,000 t lumps (10-40 mm, Fe 59%) got booked at INR 4,738/t against the base price of INR 4,728/t.
• 36,000 t fines (Fe 59%) got booked at INR 4,025/t against the base price of INR 4,015/t.
• Prices are on FOR, ex-stockpile/mines basis, including royalty, DMF and NMET.