OMC has scheduled an auction for around 2.917 mnt of iron ore (1.796 mnt of fines and 1.121 mnt of lumps) on 20 Jun’24. The company has reduced base prices m-o-m by up to INR 250-300/t and INR 1,150-1,350/t for both fines and lumps, respectively. The continuous drop in pellets, sponge and steel prices had forced miners to decrease the base prices for the upcoming auction.
