India: Bids surge by INR 250/t m-o-m in OMC’s iron ore lumps auction
In OMC’s auction for 1.44 mnt of iron ore lumps (Fe 60-65%) on 18 Apr’26, 1.23 mnt (85%) were booked at INR 5,650-8,350/t, with average premiums of INR 600/t over base prices. Weighted average bids rose by INR 250/t m-o-m. Earlier, OMC had raised base prices of lumps by INR 500/t. The auction recorded strong participation due to expectations of improved finished steel demand in Apr’26, following the start of the new fiscal year.
