In OMC’s iron ore fines auction for 2.24 mnt (Fe 51-62%) on 19 Jan’26, around 2.03 mnt (91%) were booked at INR 2,450-6,200/t. The lots received premiums of INR 550-1,150/t over base prices, with INR 750/t being the average premium. Bids (weighted average) rose by INR 425/t m-o-m. Positive steel market sentiment, amid expectations of a pick-up in demand in Q4FY26, led to the robust auction response.
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