In OMC’s iron ore fines auction of 1.92 mnt (Fe 51-65%) on 19 Sep’25, around 1.674 mnt (87%) of fines were booked at INR 2,550-5,450/t. Bids (weighted average) declined by INR 350/t m-o-m; however, against base prices bids rose by INR 50-750/t . The drop in prices was due to weak steel market sentiment and lack of clarity regarding export duty imposition and lowering of iron ore prices.
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