India: Over 90% of offered quantity fails to fetch bids at NMDC Chhattisgarh’s iron ore auction

NMDC auctioned 186,300-t iron ore from Chhattisgarh on 13 Feb’25 – 92% failed to fetch bids; around 14,300 t were sold.

• Bacheli: Of 21,500-t DR-CLO (10-40 mm, Fe 67%), 4,300 t sold at INR 7,130/t (base price); entire 10,000-t Baila-sized lumps (10-20 mm, Fe 65.5%) lot booked at INR 6,500/t (base price); 94,600-t fines (Fe 64%) unsold.
• Kirandul: 60,200-t ROM (10-150 mm, Fe 65.5%) unsold.
• Prices were on FOR, ex-stockpile/mines basis, including royalty, DMF, NMET.