Jindal, Visa Steel, Bhushan corner 80% iron ore in OMC's e-auction

After a series of low turnouts at its e-auctions, state-controlled Odisha Mining Corporation (OMC) succeeded in drawing an encouraging response at its latest round of auctions of iron ore lumps on October 4.

OMC offered 310,000 tonnes of lumps sourced from its Gandhamardhan, Daitari and Khandadhar mines. Nearly 80 per cent of the offered quantity was booked. This was despite OMC hiking floor prices by up to Rs 200 per tonne. Buyers said they booked more this time as merchant miners stuck to firm prices.

"OMC has raised floor prices on this occasion at the latest e-auctions. Despite this, the response is