In OMC’s auction for 0.901 mnt of iron ore lumps (Fe 60-65%) on 19 Jul’25, 100% material were booked at INR 5,350-7,650/t, with premiums of up to 27% on base price. Weighted average bids rose by INR 175/t m-o-m. Earlier, the miner increased base prices by INR 150/t m-o-m for few lots. Strong demand was seen in auction for lumps amid the material shortage owing to heavy rainfall in eastern region.
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