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The latest round of iron ore e-auctions by Odisha Mining Corporation (OMC) saw subdued buying interest. OMC offered 508,000 tonne of iron ore of which barely 200,000 tonne was booked, meaning an unsold inventory of 308,000 tonne.
Both iron ore lumps and fines were on offer from OMC's key operating mines of Gandhmardhan, Daitari and Koira.
The response to the auctions was weak as OMC continued its stand to hike base prices of lumps and fines. The floor price of lumpy ore was in the range of Rs 2200-2600 per tonne. Similarly, fines’ reserve price was fixed in the band
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