OMC has scheduled an auction for 2.353 mnt of iron ore (1.025 mnt of lumps and 1.328 mnt of fines) on 19 May’25. The miner reduced base prices by INR 50-100/t ($0.5-1/t) and INR 450/t ($5/t) m-o-m for fines and lumps, respectively, amid weak demand in downstream segments. A drop in sponge iron prices m-o-m also weighed on OMC’s offers.
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