In Odisha Mining Corporation’s (OMC) iron ore lumps auction today out of a total of 876,000 t of material on offer, 538,000 t (61%) received bids. The bid prices in today’s auction fell up to INR 1,550/t against the last month’s bid price. Record high coal prices have impacted the capacity utilisation of sponge iron kilns, which in turn weighed down demand for iron ore.
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