- OMC booked 6.39 lakh tonnes, or 53%, of September’s fines auction
- Winning bids rose ₹350-950/t, led by Jilling Fe 60-62% at +₹950/t
Odisha Mining Corporation’s (OMC) September iron ore fines auction saw 6.39 lakh tonnes booked against 12.05 lakh tonnes offered, translating into a booking rate of around 53%. The auction witnessed a broad-based rise in winning bids compared with the previous auction in August.
According to the OMC auction comparison sheet dated September 19, September winning bids were generally ₹350-950/t higher than August bid levels, depending on mine and grade.
The sharpest increase was recorded for Jilling Fe 60-62% fines, where the winning bid rose to ₹5,400/t from ₹4,450/t in August, a ₹950/t increase. Gandhamardan-A Fe 62-65% material saw bids rise ₹800/t to ₹5,550/t, while Daitari and Gandhamardan-B recorded increases of about ₹750/t.
On a booked-quantity-weighted basis, the increase across the grades with September bookings works out to roughly ₹729/t over the corresponding August bids.
The combination of only about 53% of offered material being booked and materially higher winning bids indicates a significant divergence between auction volume absorption and price levels. The strongest bid escalation was concentrated in specific grades, led by Jilling Fe 60-62%, rather than being uniform across the entire OMC basket.
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