Tag: OMC iron ore lumps auction

India: Over 75% of iron ore lumps fetch bids at OMC’s auction

Mar 19, 2024

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by

Ratiram Gurjar

in Fines/Lumps

OMC conducted an auction for 1.23 mnt of iron ore lumps (Fe 58-62%) on 19 Mar’24. The buyers booked 958,000 t (78% of the offered quantity) lumps at INR 4,300-6,900/t. Buyers interest remained slowed and bids dropped by INR 200-600/t for the majority lots against last month. Fall in sponge iron prices, expected liquidity crunch…