India: NMDC Kumaraswamy iron ore auction fetches premium bids

NMDC auctioned 324,000 t of iron ore on 19 Nov'24 from its Kumaraswamy mines.

• 144,000-t lumps (10-40 mm, Fe 61.41-63.99%) booked at INR 5,333-6,688/t against base prices of INR 5,133-5,778/t.
• 180,000-t fines (Fe 54.89-64.42%) booked at INR 2,889-5,835/t against base prices of INR 2,889-4,815/t.

Prices are on ex-mines basis, including royalty, DMF, and NMET. Bid prices for lumps and fines were higher by INR 990/t and 1,290/t, respectively.