Odisha Mining Corporation (OMC) had scheduled an iron ore lump auction on 16 Feb’22. According to latest reports, the entire quantity of 627,000 t was booked. The auction received bids higher by INR 450-1,550/t as against the bid last auction. Limited availability of high-grade material in Odisha and lower offers in the merchant market resulted in the hike in iron ore prices.
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