Will weak steel fundamentals keep Indian iron ore prices under pressure?

Source: BigMint May 29, 2026 09:00

OMC auction bid corrections drag Odisha iron ore prices lower. Pellet, sponge iron and billet weakness weighs on raw material sentiment. Fresh mine output additions likely to keep domestic supplies elevated

Indian iron ore prices have entered a corrective phase amid weakening steel market conditions, softer pellet and sponge iron prices, and rising ore availability across key mining regions. Market sentiment in eastern India deteriorated further following the latest Odisha Mining Corporation (OMC) auction, where bids corrected sharply month-on-month, reflecting

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