Odisha Mining Corporation (OMC), a state-owned miner has scheduled its next e-auction on 6 Dec’17 for 430,000 MT iron ore. Out of the offered quantity 400,000 MT is lump and rest 30,000 MT is fines. The material to be put under hammer is from Gandhamardan, Daitari and Koira mines.
The miner has kept iron ore base prices unchanged for the material offered from all its mines.
On the other hand, other Odisha based major merchant miners namely – Rungta Mines, KJS Ahluwalia have recently raised iron ore lump prices by INR 400/MT and fines by INR 200/MT.
In its previous iron ore e-auction conducted on 07 Nov’17, for 490,000 MT iron ore fines fetched good response with nearly 61% of the material getting sold. As per market sources report to SteelMint, Vizag Steel (RINL) had participated in the e-auction and had bid for nearly 80,000 MT Daitari fines.
Base price comparison of OMC iron ore e-auctions
|
Mines |
Size | Fe (%) | Base Price | Base Price | Base Price | Change | Quantity |
| (mm) | as on 04 Oct’17 | as on 07 Nov’17 | as on 06 Dec’17 | (in INR/MT) |
(MT) |
||
| Gandhamardan | 10-180 | 65 | 1,700 | – | 1,700 | = | 5,000 |
| 10-40 | 62 | 2,000 | – | 2,000 | = | 145,000 | |
| Fines | 60-62 | – | – | 800 | = | 30,000 | |
| Kurmitar (Koira) | 10-40 | 62 | 2,650 | – | 2,650 | = | 150,000 |
| Daitari | 10-40 | 62 | 2,600 | 800 | 2,600 | = | 100,000 |
| Total | 430,000 | ||||||
Base prices in INR/MT on ex-mines basis; including royalty
Source: SteelMint Research
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