OMC conducted an auction for 1.546 mnt of iron ore fines (Fe 54-65%) on 19 Feb’24. The entire quantity was booked at INR 3,910-5,850/t. Bids increased by INR 100-1,050/t against the base prices. However, bid prices fell up to INR 850/t for the majority of lots against OMC’s Jan auction owing to a drop in pellet offers in central and eastern India.
