India: Bids fall by INR 250/t m-o-m in OMC’s iron ore lumps auction
In OMC’s auction for 1.14 mnt of iron ore lumps (Fe 60-65%) on 19 Jun’26, around 1.03 mnt (90%) were booked at INR 4,750-7,3-00/t, with premiums of upto 19% over base prices. Weighted average bids fell by INR 250/t m-o-m. Earlier, OMC had kept base prices stable for this month. The sharp decline in CDRI prices — by INR 1,000/t m-o-m to INR 25,200/t exw-Rourkela — led to the fall in bids.
