OMC auctioned 0.861 mnt of iron ore lumps (Fe 58-64%) on 18 Dec’24, of which 100% material was booked at INR 4,750-8,150/t with a premium of INR 950-2,300/t over the base prices. Steelmakers actively responded to the auction, with bids (weighted average) surging by around INR 200/t m-o-m. The miner reduced base prices by INR 300/t m-o-m for the lumps lots.
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