India: SKMEPL's auction garners no response from buyers

• In SKMEPL's auction on 20 Dec'23, 28,000 t of lumps (10-40 mm, Fe 53.1-59%) and 52,000 t of fines (Fe 49-62.5%) with base price set at INR 4,500-5,100/t and INR 1,500-6,000/t, respectively, remained unsold.
• Meanwhile, a leading Karnataka-based miner sold 8,000 t of iron ore fines (Fe 62.5%) at INR 6,000/t and 12,000 t of iron ore lumps (10-40 mm, Fe 64%) at INR 6,000/t via direct sales. Prices include royalty, DMF & NMET.