State-owned miner Odisha Mining Corporation (OMC) has scheduled an iron ore fines auction for 23 Aug’21.
- The miner has put a total of 866,000 t of iron ore fines to auction.
- Base price for higher grade fines have come down by up to INR 700/t while that of low grade has come down by INR 1,350/t against OMC’s July auction.
- OMC has reduced offers following price cuts announced by major Odisha-based merchant miners such as Essel Mining and Rungta Sons towards early Aug’21.
- OMC’s last iron ore fines auction held on 22 Jul received a tepid response, with only 117,000 t of material getting booked against the total quantity of 689,000 t up for auction.
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