India: Over 90% of iron ore lumps fetch bids at OMC's auction
OMC conducted an auction for 1.281 mnt of iron ore lumps (Fe 58-64%) on 19 Dec'23. The buyers booked 1.181 mnt (92% of the offered quantity) lumps. Bids for lumps received a good response against bids in Nov'23 and increased by INR 50-1,400/t. The miner reduced the base prices of lumps by INR 100/t for today's auction.