Odisha Mining Corporation’s (OMC) iron ore fines auction was held today. Out of 1.62 mnt put on offer, only 6,35,000 t (39%) received bids. The miner decreased the base price for fines marginally by up to INR 150/t for today’s auction and bid prices remained largely close to the set base price except for the Jilling lot. Lower capacity utilisation resulted in less participation. OMC produced 27 mnt of iron ore in FY22 compared with just 13.06 mnt in FY21.
Leave a Reply