Odisha Mining Corporation (OMC) has scheduled its next iron ore lump e-auction on 03 Aug’18, raised base prices upto INR 400/MT.
Odisha Mining Corporation (OMC), a state-owned miner is to conduct next e-auction for 290,000 MT iron ore CLO and lump on 03 Aug’18. The material put under hammer is from Gandhamardan, Daitari and Koira mines. No traders shall be allowed to take part in the e-auction.
Out of the total quantity, 275,000 MT is DR CLO and remaining 15,000 MT is lump ore. The entire lump ore material offered is from Gandhamardan mines and the base price for the ore is set at INR 2,700/MT, up by INR 200/MT against the last lump e-auction held on 05th June’18. For the remaining 90,000 MT ore offered from Gandhamardan mines base price remains unchanged at INR 3,500/MT.
The base price for lump offered from Daitari mines is increased by INR 400/MT (12%) and for Koira mines base price is up by INR 200/MT (6%) against the last lump e-auction held in June.
Other Odisha based major merchant miners had announced a price hike of INR 300/MT in lump and fines earlier this month following increase in Royalty. Again last week miners have raised fines prices by INR 150/MT on increased pellet export realization.
Base price comparison of OMC iron ore e-auctions-
| Mines | Size (mm) | Fe (%) | Base Price as on 04 Apr’18 | Base Price as on 05 Jun’18 | Base Price as on 03 Aug’18 | Quantity (MT) |
| Gandhamardan | 10-40 | 62% | 2,600 | 3,500 | 3,500 | 90,000 |
| 10-180 | 65% | 2,200 | 2,500 | 2,700 | 15,000 | |
| Kurmitar (Koira) | 10-40 | 62% | 3,200 | 3,600 | 3,800 | 80,000 |
| Daitari | 10-40 | 62% | 3,200 | 3,400 | 3,800 | 105,000 |
| Total | 290,000 | |||||
Base prices in INR/MT on ex-mines basis; including royalty
Source: SteelMint Research
OMC’s last e-auction was held on 09 July’18 for 420,000 MT iron ore fines. Out of the total quantity, around 80% of material (334,000 MT) received bids. The bids received by Gandhmardan mines stood up by INR 150-200/MT while for Daitari it stood up by INR 50-100/MT, against the set base price. The material from Koira mines received flat bids at 850/MT.
According to data maintained with SteelMint, OMC iron ore production for H1 CY’18 recorded at 5.48 MnT, 11% of total Odisha’s iron ore production.
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