Tag: omc lumps auction result

OMC conducted an auction for 1.072 mnt of iron ore lumps (Fe 58-64%) on 20 Aug’24. The buyers booked 1.068 mnt (99% of the offered quantity) of lumps at INR 3,350-6,200/t. Steelmakers responded actively to the lumps auction, with the weighted average bids remaining stable compared to last month. Notably, the miner had reduced the…