In OMC’s auction for 1.073 mnt of iron ore fines (Fe 51-65%) on 19 Jun’25, 1.025 mnt (95%) from different lots were booked at base prices of INR 3,600-5,600/t ex-mines, with some lots securing premiums of INR 50-950/t. Bids (weighted average) dropped by INR 250/t m-o-m. Earlier, OMC had reduced base prices by INR 500-700/t m-o-m. Falling pellet and steel prices led to lower bids m-o-m.
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