State PSU miner OMC has scheduled an iron ore auction for 18 July. Around 1.23 mnt of lump ore and 1.56 mnt of iron ore fines will be put up for auction. The base price of the auction is yet to be disclosed. In the previous auction, the merchant miner received a weak response, as out of 2.77 mnt on offer, only 0.166 mnt (6%) received bids.
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