OMC conducted an auction for 1.828 mnt of iron ore fines (Fe 54-65%) on 19 Apr’24. Entire quantities of fines were booked at INR 2,850-5,600/t. Bids for fines have increased by INR 300-900/t for majority lots against last month’s bids, as per BigMint’s analysis. An increase in pellets price along with decent hike in sponge and finished steel price had boosted steelmakers confidence for aggressive bids.
