OMC will auction 2.825 mnt of iron ore (0.954-mnt lumps and 1.871-mnt fines) on 17 Oct’25. The miner has reduced the base prices of iron ore fines by INR 50-350/t and lumps by INR 550/t. The decline follows a sharp fall in sponge iron and semi-finished steel prices, coupled with weak market sentiment and cautious buying activity during the first half of October.
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