India: Bids for iron ore lumps drop by INR 250/t m-o-m in OMC’s auction
In OMC’s auction for 1.193 mnt of iron ore lumps (Fe 60-65%) on 19 Dec’25, the entire material was booked at INR 5,700-8,600/t, with premiums of INR 1,050-3,300/t. Weighted average bids dropped by around INR 250/t m-o-m, driven by a sharp decline in sponge iron prices. Earlier, OMC had also decreased the base prices of lumps by INR 400-750/t.
