In OMC’s auction for around 1.519 mnt of iron ore fines (Fe 55-65%) on 19 Feb’25, around 1.423 mnt (94%) quantity was booked at INR 3,150-5,250/t ex-mines. The bids fetched a premium of INR 50-450/t for a few lots against the set base price. Meanwhile, weighted average bids rose by around INR 250/t m-o-m. OMC had increased the base prices by around INR 200-350/t m-o-m for fines.
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