At Odisha Mining Corporation’s (OMC’s) iron ore fines auction today, 1.15 mnt put for auction and 1.11 mnt, or 97% of the total quantity received bids. The bid price for fines increased by up to INR 400/t against the last auction on 16 Nov’22. Tight availability of high grade ore fines, lower inventories with mills and supported pellets offers in eastern India have made the auction a success.
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