Tag: iron ore auction premiums India
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India: Bids drop INR 150/t m-o-m in OMC’s lumps auction
In OMC’s auction for 1.58 mnt of iron ore lumps (Fe 60-65%) on 19 Feb’26, around 1.574 mnt (99%) were booked at INR 5,850-7,350/t, with premiums of INR 150-900/t. Weighted average bids fell by INR 150/t m-o-m. Earlier, OMC had raised the base prices of lumps by INR 100-300/t. The auction witnessed strong demand due…