OMC has conducted an auction for 404,000 t of iron ore lumps (Fe60-65%) today. According to market sources, 277,000 t was booked at INR 6,150-10,600/t. Bids have remained close to the base price except for few lots for which prices increased by INR 100-650/t. The miner had increased the base price for lumps by up to INR 490/t compared with the auction on 17 February.
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