Iron ore fines (Fe 61%) spot prices edged up by $0.85/dmt d-o-d to $112.35/dmt CFR China on 11 May against 8 May'26. Prices were supported by positive sentiment and firm steel demand. Healthy steel production and reduced inventories supported mill margins and overall demand fundamentals. Portside prices also rebounded amid steady procurement by steelmakers. However, high inventories at some ports continued to limit sharper gains.

SAIL conducted an auction for 20,000 t iron ore dump fines (Fe 60.50%) from its Bolani mines on 9 May'26. According to the sources, entire quantity was booked at INR 4,650/t. Prices were on ex-mines e basis and included royalty, DMF, NMET, and additional premium.

NMDC CG auctions fetch response for 81,400 t iron ore on 8 May.

• Bacheli : 21,500 t (10-40 mm, Fe 67%) DR CLO received INR 1,200/t premium (INR 6,200/t base). 4,000 t lumps (10-20 mm, Fe 65.5%) sold at INR 6,250/t, while 90,200 t (Fe 60%) fines remained unsold.
• Kirandul: 51,600 t fines (Fe 64%, FOR basis) sold at INR 4,760/t while 68,000 t fines (FOT basis) remained unsold.
• Prices will be on FOR basis, exclusive of royalty, DMF, and NMEDT.