India: OMC reduces lumps prices by INR 200/t, rolls over fines tags for Nov'25 iron ore auction

OMC will auction 2.94 mnt of iron ore (1-mnt lumps and 1.939-mnt fines) on 19 Nov'25. The miner has reduced the base prices of lumps by INR 200/t, while those of fines remained stable m-o-m. Limited availability of higher-grade fines in the market and a slight m-o-m downtrend in sponge iron and steel tags in Oct'25 led to the mixed movements in OMC's base prices.