OMC conducted an auction for 1.021 mnt of iron ore lumps (Fe 58-64%) on 20 Sep’24. The buyers booked entire quantity) of lumps at INR 3,900-6,800/t. Steelmakers showed an active response for the lumps auction with bids surged on an average for all the lots around INR 550/t for majority of lots against stable m-o-m base price. The recent improvement in sponge iron prices in central-eastern region supported the lumps premium in OMC auction.
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