In OMC’s auction for 1.348 mnt of iron ore fines (Fe 51-65%) on 19 Jul’25, 1.304 mnt (97%) was booked at INR 2,550-5,350/t ex-mines, with a premiums of INR 50-850/t. Bids (weighted average) increased by INR 150/t m-o-m. Earlier, OMC had lifted up base prices by INR 150/t m-o-m for few lots. Limited availability of iron ore due to monsoon and rise in pellet prices supported the fines auction bids.
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