SMIORE conducted an auction for 70,000 t of lumps from Karnataka on 7 Feb’24. 50,000 t lumps (20-40 mm, Fe 55-58.90%) were booked at INR 4,330-6,680/t against the base price of INR 4,330-5,290/t while 16,000 t lumps (10-40 mm, Fe 58-58.90%) were booked at INR 4,600-4,800/t against the base price of INR 4,600-4,790/t. Notably, bid prices were higher by around INR 1,390/t. Prices include royalty, DMF and NMET.
