In OMC’s auction for 1.02 mnt of iron ore lumps (Fe 58-65%) on 20 Mar’25, 0.991 mnt (97%) was booked at INR 5,600-7,900/t at a premium of INR 50-1,450/t over the base prices. Weighted average bids rose by INR 100/t m-o-m. The miner had raised base prices by INR 750/t m-o-m for lumps amid tight availability of iron ore.
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