India: Bids for iron ore lumps remain firm m-o-m in OMC’s auction
In OMC’s auction for 1.414 mnt of iron ore lumps (Fe 60-65%) on 19 Jan’26, the entire material was booked at INR 5,500-7,700/t, with premiums of INR 100-1,950/t. Weighted average bids remained largely stable m-o-m. Earlier, OMC had raised the base prices of lumps by INR 800/t. A hike of INR 3,000/t m-o-m in sponge CDRI prices, along with higher steel prices, kept lumps bids firm.
