At OMC’s iron ore lump auction today, 442,000 t, or 68% of the total quantity, received bids from 650,000 t of material on offer. Bid prices in today’s auction increased sharply by up to INR 2,200/t against the previous auction on 16 Nov’22. OMC’s iron ore production increased to 27 mnt in FY22 compared to 13.06 mnt in FY21.
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