India: Over 30,000 t of iron ore lumps booked in SMIORE’s auction from Karnataka

SMIORE conducted an iron ore auction from Karnataka on 20 Nov’24, in which 31,000 t of lumps were booked.

• 1,000-t lumps (5-20 mm, Fe 56%) booked at INR 4,970/t against base price INR 4,730/t.
• 17,000-t lumps (10-40 mm, Fe 55.5-58.5%) booked at INR 4,220-4,930/t against base prices INR 3,770-4,930/t.
• 13,000-t lumps (20-40 mm, Fe 56-56.8%) booked at INR 4,580-5,170/t against base prices INR 4,580-4,780/t.

Prices include royalty, DMF, and NMET.