Odisha Mining Corporation (OMC) has scheduled its next iron ore e-auction on 04 Apr’18.
Odisha Mining Corporation (OMC), a state-owned miner is to conduct next e-auction for 329,000 MT iron ore on 04 Apr’18. The entire quanity of material put to auction is lump and the material put under hammer is from Gandhamardan, Daitari and Koira mines.
The miner has kept base prices unchanged for materials size 10-40 mm (Fe 62%) against last lump e-auction held on 18 Jan’18. No traders shall be allowed to take part in the e-auction. However state based MoU signed steel plants, , steel sponge, state based crusher units, pellet, sinter, end user & pig iron plants inside & outside Odisha.
Iron ore supply in Odisha has eased out with few major merchant iron ore mines resuming operations after receiving consent from the Apex Court on penalty payment of illegal mining. Essel mining was allowed to resume operations during mid Feb and Serajuddin by around last week of February by Supreme Court.
Base price comparison of OMC iron ore e-auctions-
| Mines | Size (mm) | Fe(%) | Price as on 06th Dec’18 | Price as on 18th Jan’18 | Price as on 04th Apr’18 | Change (INR/MT) | Change (%) | Quantity (MT) |
| Gandhamardan | 10-40 | 62% | 2,000 | 2,600 | 2,600 | – | – | 100,000 |
| 10-180 | 65% | 1,700 | – | 2,200 | +500 | 29% | 9000 | |
| Kurmitar (Koira) | 10-40 | 62% | 2,650 | 3,200 | 3,200 | – | – | 120,000 |
| Daitari | 10-40 | 62% | 2,600 | 3,200 | 3,200 | – | – | 100,000 |
| Total | 329,000 | |||||||
Base prices in INR/MT on ex-mines basis; including royalty
Source: SteelMint Research
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OMC e-auction received overwhelming response for last e-auction held on 07th Mar’18 with entire offered quantity of 3,40,000 MT fines being booked. The fines offered from Daitari mines fetched flat bids at INR 1,900/MT. However bids for fines offered from Koira and Gandhamardhan mines were higher by INR 350-450/MT over the set base price of INR 1,000/MT. Although bids received were above base price but the bids were lower than bids received in the previous auction (6th Jan).
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