OMC auctioned 0.918 mnt of iron ore lumps (Fe 58-64%) on 18 Oct’24, of which around 0.78 mnt (85%) were booked at INR 5,200-7,700/t with a premium of INR 100-1,100/t over the base prices. Steelmakers actively responded to the lumps auction, with bids (weighted average) surging by around INR 1,450/t m-o-m. The miner hiked the base prices by INR 1,800/t m-o-m for the lumps lots.
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