Tag: iron ore price correction

In OMC’s iron ore fines auction of 1.871 mnt (Fe 51-62%) on 17 Oct’25, around 1.82 mnt (97%) of fines were booked at INR 2,500-5,700/t. Bids (weighted average) rose marginally by INR 50/t m-o-m. The stability in bid prices was due to material shortage and lower production volumes due to extended monsoons.