OMC has scheduled an auction for 3 mnt of iron ore ( 1.828 mnt of fines and 1.177 mnt of lumps) on 19 Apr’24. OMC has reduced the base price m-o-m by INR 200-300/t for fines, while INR 500/t has been increased m-o-m for the few lumps lots. The recent hike in sponge iron and finished steel prices, in addition to subdued pellet export sentiments, weighed on fines prices.
