India: Over 50,000 t of iron ore sold in Karnataka auctions

  • Vedanta (26 Aug): 4,000 t of iron ore (10-40 mm, Fe 49.75%) booked at INR 2,510/t (INR 110/t premium) and 2,000 t (6-20 mm, Fe 53.5%) at base price of INR 2,400/t.
  • SMIORE (26 Aug): 14,000 t (5-20 mm, Fe 54.5-56.8%) sold at INR 3,380-4,430/t, 7,000 t of lumps (10-40 mm, Fe 54.7-57%) at INR 3,360-4,510/t, 11,000 t (20-40 mm, Fe 54.2-57.1%) at INR 3,850-5,110/t, and 16,000 t of fines (Fe 57-58.2%) at INR 3,394-3,691/t.

Prices are inclusive of taxes for SMIORE, while Vedanta’s are exclusive.