Iron ore fines offered from Daitari mines have increased by INR 100/MT, however for other mines base prices remain unchanged.
Odisha Mining Corporation (OMC), a state-owned miner has scheduled its next e-auction on 7 Nov’17 for 490,000 MT iron ore fines. The material to be put under hammer is from Gandhamardan, Daitari and Koira mines.
The miner has kept iron ore fines base prices unchanged for the material offered from Gandhamardan and Koira mines. However base prices for material offered from Daitari mines has increased by INR 100/MT.
Prior to this, the miner conducted e-auction for 292,000 MT iron ore fines on 7 Sept’17. The material put under hammer was from Gandhamardan, Daitari and Koira mines. The miner had kept iron ore fines base prices unchanged for the material offered from Gandhamardan and Koira mines. However base prices for material offered from Daitari mines had come down by INR 100/MT. According to market sources report to SteelMint, the e-auction received overwhelming response and entire quantity offered was sold.
Base price comparison of OMC iron ore e-auctions
|
Mines |
Size | Fe (%) | Base Price | Base Price | Base Price | Change | Change | Quantity |
| (mm) | as on 05 Jul’17 | as on 07 Sept’17 | as on 07 Nov’17 | (in INR/MT) | (in %) |
(MT) |
||
| Gandhamardan | -10 | 60-62 | 800 | 800 | 800 | = | = | 90,000 |
| Kurmitar (Koira) | -10 | 62-60 | 800 | 800 | 800 | = | = | 300,000 |
| Daitari | -10 | 64-62 | 1,600 | 1,500 | 1,600 | +100 | +7% | 100,000 |
| Total | 490,000 | |||||||
Base prices in INR/MT on ex-mines basis; including royalty
Source: SteelMint Research
Odisha based major merchant miners have kept iron ore prices unchanged as of now.
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