For the next round of chrome ore e-auction which will be held on 6 Nov’17, the Odisha government owned miner OMC has offered a total of 46,790 MT chrome ore. Out of which 28,600 MT are friable ore, 3,900 MT are concentrate, 10,330 hard lump, 1,220 MT Chips and 2,740 Fines.
The company has offered the material of quantity 25,200 MT from South Kalapani chromite mines, 3,400 MT from Sukrangi Chromite Mines, and 14,290 MT From Bangur Mines.
The delivery period of the material is 60 days from the date of contract.
The bid value coated shall be the basic price in rupees per WMT (Wet Materic Ton) for the mineral inclusive of royalty and exclusive of cess and other statutory duties and levies etc applicable at the time of suppliers will be extra and payable by the successful bidder
Ferro Chrome Market Scenario
Indian Ferro Chrome prices have plunged on weak Chinese demand. There is ample domestic Ferro Chrome supply in China and falling Stainless Steel prices forced the Indian producers to reduce their offers to generate trading possibilities. Chinese buyers are only amenable to prices lower than 89 cents/lb CIF China (equivalent to INR 76,500/MT).
Ferro chrome prices are also under pressure from falling chrome ore prices in China. Chrome ore prices in the Chinese spot market have fallen sharply by USD 45/MT W-o-W and South African 40-42% chrome ore was heard trading this week at USD 180/MT CIF China. Many attributed this sharp price fall to the weak Chinese Stainless Steel market and low demand for Ferro chrome further pressurizing Chrome Ore prices.
For contact details view tender section:
http://www.steelmint.com/tender/auction-of-chrome-ore-and-chrome-concentrate-8565
Leave a Reply