India: OMC raises base prices by up to INR 150/t ($2/t) for Sep’25 iron ore auction

OMC will auction 3.098 mnt of iron ore (1.178-mnt lumps and 1.92-mnt fines) on 19 Sep’25. The miner increased base prices by INR 50/t and INR 50-150/t m-o-m for the fines and lumps lots, respectively. This follows firm prices of raw pellets and sponge iron. The miner has offered larger volumes compared to previous auctions, as production improved with the slowing of the monsoon.