Odisha Mining Corporation’s (OMC’s) iron ore fines auction was held today. Out of 1.431 mnt put on offer, only 3,74,000 t (26%) received bids. The miner decreased the bid price for fines marginally by up to INR 150/t for today’s auction against the last auction on 18 Jul’22. Lower capacity utilisation at pellet plants and bid-offer disparities resulted in less participation. OMC produced 27 mnt of iron ore in FY22 compared with 13.06 mnt in FY21.
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