Tag: iron ore supply tightening

In OMC’s auction for 1.57 mnt of iron ore lumps (Fe 60-65%) on 19 Mar’26, 100% material was booked at INR 5,750-7,350/t, with premiums upto 32% over base prices. Weighted average bids rose by INR 50/t m-o-m. Earlier, OMC had lowered the base prices of lumps by INR 50-600/t. The auction witnessed strong demand due…