In OMC’s auction for 1.377 mnt of iron ore fines (Fe 54-65%) on 20 Sep’24, the entire quantity was booked at INR 2,370-4,970/t. Bids (weighted avg) increased around INR 275/t against last month. The auction received good response from steelmakers with bids fetching premium of INR 250-1,250/t against set base price owing to tight availability of high grade ore due to extended monsoons.
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