India: NMDC’s iron ore auction from Kumaraswamy fetches premium bids

NMDC’s Kumaraswamy auction for 272,000 t of iron ore on 28 Nov’24 witnessed:

• 96,000 t lumps (10-40 mm, Fe 62.05-63.18%) getting booked at INR 6,493-6,625/t against base price of INR 5,293-5,575/t.
• 176,000 t fines (Fe 53.54-63.08%) getting booked at INR 2,701-5,663/t against base price of INR 2,701-4,613/t. Prices were ex-mines, including royalty, DMF and NMET.
• Bid prices for lumps and fines rose by INR 1,220/t and 1,090/t, respectively.