India: SMIORE iron ore lumps auction from Karnataka receives active response

SMIORE recently conducted an auction from Karnataka on 28 Sep'24, in which 39,000 t of iron ore lumps were booked.

• 9,000 t lumps (5-20 mm, Fe 55.5-56.2%) were booked at INR 4,330-4,670/t against the base price of INR 4,330-4,660/t
• 19,000 t lumps (10-40 mm, Fe 56.5-59.10%) were booked at INR 4,020-4,830/t
• 11,000 t lumps (20-40 mm, Fe 56-57.2%) at INR 4,700-5,610/t against the base price of INR 4,230-4,760/t
• Prices include royalty, DMF and NMET