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

NMDC conducted an auction for 306,000 t of iron ore on 10 Oct’24 from its Kumaraswamy mines.

• 134,000 t lumps (10-40 mm, Fe 57.96-64.03%) booked at INR 3,825-5,824/t against base prices of INR 3,825-5,194/t
• 152,000 t fines (Fe 54.89-62.62%) booked at INR 3,049-4,847/t against base prices INR 3,049-4,137/t (prices on ex-mines basis, including royalty, DMF, and NMET)
• Bid prices of lumps and fines were higher by INR 640/t and 710/t, respectively