India: Over 300,000 t of iron ore left unsold in NMDC’s Chhattisgarh auction

NMDC conducted an auction for 321,600 t of iron ore from Chhattisgarh on 21 Nov’24

Bacheli: Out of 12,000 t Baila-sized lump (10-20 mm, Fe 65.5%), 8000 t was sold at base prices of INR 6,860/t. However, 47,300 t DRCLO (10-40 mm, Fe 67%), and 197,800 t fines (Fe 64%) remained unsold.

Kirandul: Around 64,500 t ROM (10-150 mm, Fe 65.5%) failed to fetch bids. Prices were FOR on basis, including royalty, DMF, and NMET.