Odisha’s state-owned miner- Odisha Mining Corporation (OMC) had scheduled an iron ore e-auction today (31st Mar’21) for 1.13 mn t iron ore lumps. The miner had raised the base price up to INR 1,850/t against its last auction held towards early Feb’21. The auction received active participation and bids fetched were higher by up to INR 1,600/t over the set base price, sources highlighted. Due to limited iron ore lump offers in Odisha’s merchant market amid exhausting EC limits has resulted in a sharp hike in bids.
Leave a Reply