In OMC’s auction for 0.902 mnt of iron ore lumps on 19 Aug’25, around 0.889 mnt (Fe 60-65%) were booked at INR 5,400-7,250/t, with premiums of up to 26% on the base prices. Weighted average bids remained stable m-o-m. Earlier, the miner had increased base prices by INR 350/t m-o-m for some lots. Strong demand was seen amid material shortages and a m-o-m hike in sponge iron prices.
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