State-owned miner Odisha Mining Corporation (OMC) has scheduled an iron ore lump e-auction on 31 Aug’21. The total material to be put under the hammer has been increased to 765,000 t. The miner has lowered base prices by up to INR 1,000-1,800/t compared to the floor price at the previous auction on 31 Jul’21. Market sources expected a reduction in the base price owing to dull response received at recent auctions.
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