- OMC booked 490,000 t, or 80%, of iron ore CLO auction
- Weighted average bids rose up to INR 1,250/t ($13/t) m-o-m
Odisha Mining Corporation’s (OMC) iron ore CLO auction dated September 19 saw 490,000 tonne (t) booked against 612,000 t offered, translating into a booking rate of around 80%. A total of 122,000 t remained unsold. Weighted average bid prices in Sept’26 were higher by INR 1,250/t m-o-m.
Winning bids increased by up to INR 1,600/t ($17/t) over the base price, with the sharpest rise recorded for Khandbandh (10-40 mm, Fe 62%) at INR 8,350/t ($87/t) against the base price of INR 6,750/t ($70/t), followed by Dubna-Sekradihi (10-40 mm, Fe 62%) at +INR 1,400/t ($15/t) and Roida ‘C’ Mines (5-18 mm, Fe 60%) at +INR 1,350/t ($14/t).
Other notable increases included Jilling (18-40 mm, Fe 62%) and Banspani (10-40 mm, Fe 62%) at +INR 950/t ($10/t) each followed by Gandhamardhan (10-40 mm, Fe 62%) at +INR 650/t ($7/t).
However, price gains were uneven. Around 206,000 t of booked material, mainly from Apahatu and Guali, saw no increase over the base price.
Leave a Reply