At OMC’s iron ore lump auction today, 490,000 t, or 68% of the total quantity put on offer (724,000 t), received bids. Bid prices in today’s auction increased sharply by up to INR 950/t against the base prices. However, against bid prices of last auction they have exhibited mixed response. OMC produced 27 mnt of iron ore in FY22 compared to 13.06 mnt in FY21.
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