In OMC’s iron ore fines auction of 1.493 (Fe 51-65%) on 19 Aug’25, around 1.472 mnt (98.6%) of fines were booked at INR 2,650-5,550/t, with premiums of INR 50-700/t over base prices. Bids (weighted average) rose by INR 300/t m-o-m. The hike in prices was led by the material shortage due to the heavy monsoon, which has impacted the production and dispatch of iron ore. Earlier, the miner had increased base prices by INR 300/t.
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