In OMC’s auction for 1.328 mnt of iron ore fines (Fe 55-65%) on 19 May’25, *0.508 mnt (38%) from different lots were booked at the base prices within the range INR *4,100-5,500/t ex-mines. Bids (weighted average) dropped INR 100/t m-o-m. Weaker pellet and sponge prices led to the weak response. OMC had decreased the base prices by around INR 50-100/t m-o-m for some fines lots.
*Correction: In the earlier published article, the sold quantity in the Roida mines was not added to the result.
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