At Odisha Mining Corporation’s (OMC’s) iron ore fines auction today, 0.944 mnt, or 91% of the total quantity put on offer (1.037 mnt), received bids. The bid price for fines increased by up to INR 450/t against the last auction on 19 Sep’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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