Steel units in Odisha resent high pricing of OMC's iron ore

Besides, the weighted average price adopted by OMC is higher than the market price

Steel and other end-use industries in Odisha have taken exception to the stubbornly high pricing of iron ore for the long-term linkage customers. Pointing to the faulty method of price discovery, the state-based units have sought relief from the steep prices in the form of concession in pricing.

Industries sourcing iron ore via e-auctions organised by the state-controlled Odisha Mining Corporation (OMC) have complained that the price determination for long-term linkage customers is based on the discovered price through e-auctions by OMC. They have alleged that the discovered price at auctions is unsustainably high and it needs to be eased.