India: NMDC’s iron ore auction from Kumaraswamy garners good response

NMDC conducted an iron ore e-auction on 19 Jan’22 from its Kumarswamy mines at which 533,000 t was booked out of a total quantity of 543,000 t.

• JSW Steel emerged as the largest buyer, with bookings at 299,000 t, followed by Vanya Steels Private Ltd. and Janki Corp. Ltd. at 32,000 t each.
• Iron are lump (Fe 61.88%) was booked at INR 3,416-3,426/t (basic, taxes extra), up INR 70/t as against the previous auction on 4 Jan.