Odisha Mining Corporation (OMC) had scheduled an iron ore fines auction on 19 May’22 in which out of a total of 1.23 mn t of material, 936,000 t (76%) received bids. The bid prices in today’s auction fell up to INR 1,650/t against last month’s bid price. Iron ore prices in Odisha have tumbled to a three-month low on falling domestic metallics and steel prices and a bearish demand and price outlook globally.
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