Tag: OMC Auction Result

India: Bids jump up by over INR 1,000/t ($12/t) in OMC’s iron ore fines auction as lower supply drives competition

Oct 18, 2024

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by

Ratiram Gurjar

in Fines/Lumps

Miner lowers offered quantity by 20% m-o-m in Oct Global iron ore prices increase over $10/t m-o-m India’s 2nd-largest merchant miner, Odisha Mining Corporation (OMC), conducted an auction for 1.98 mnt ore on 18 October. The base prices for both fines and lumps have been increased by INR 850-1,800/t m-o-m. This hike follows rising iron…