India: OMC hikes base prices by up to INR 500/t ($5/t) for upcoming iron ore auction

OMC will auction 3.412 mnt of iron ore (1.44 mnt lumps and 1.972 mnt fines) on 18 Apr'26. The miner has increased base prices of lumps by INR 500/t, while fines prices rose by up to INR 250/t m-o-m. The upward revision follows similar price hikes by NMDC and Lloyds Metals by INR 450-550/t, reflecting improved market sentiment. OMC has restricted participation of traders from e-auctions.