India: SMIORE’s iron ore lumps auction receives active response

SMIORE conducted an auction from Karnataka on 9 Oct’24, in which 33,000 t of iron ore lumps were booked.

• 7,000 t lumps (5-20 mm, Fe 55.6-57.3%) were booked at INR 4,440-5,110/t.
• 20,000 t lumps (10-40 mm, Fe 56.3-57.5%) were booked at INR 4,180-4,510/t against base price of INR 4,140-5,010/t.
• 6,000 t lumps (20-40 mm, Fe 57.5-57.6%) were booked at INR 5,230-5,330/t against base price of INR 5,010-5,030/t.
• Prices include royalty, DMF, and NMET.