India: Bid prices inch down m-o-m in OMC's iron ore fines auction
In OMC's auction for around 1.4 mnt of iron ore fines (Fe 51-65%) on 18 Dec'24, the entire quantity was booked at INR 2,250-5,400/t ex-mines. The bids fetched premium of INR 50-1,100/t against the set base price. However, weighted average bids fell by around INR 150/t m-o-m. The miner reduced the base prices by around INR 400/t m-o-m for fines.