OMC witnessed a positive response in the August round of Chrome Ore auction as the entire quantity of friable chrome ore received bids at an average of about 9.7% above the base price.
State-owned, Odisha Mining Corporation (OMC) recently conducted the e-auction, offering a total of 32,637 MT chrome ore and concentrates. Out of which 32,400 MT are friable ore, and 237 MT is Chrome concentrates.
The floor price set for the August round of auction has been reduced by an average INR 1446/MT on the backdrop of sliding Ferro Chrome prices in the market.
The company had offered 30,900 MT from South Kalapani chromite mines, 1,500 MT from Sukrangi Chromite Mines and 237 MT from COBP Kaliapani.
The bid received for the friable ores are at a weighted average price of INR 11,697/MT for +54% grade, INR 10,736/MT for 52-54% grade, INR 9,904/MT for 48-50% grade, INR 8,535/MT for 46-48% grade, INR 7,501/MT for 44-46% grade and INR 5,953/MT for 42-44%.
However, Chrome concentrates are left unsold as it was old stock and even the quantity was very low.
| Mines | Grade | Base Price | Weighted Avg. Bid Price | Previous Bid Price | Offered Quantity | Allocated Quantity |
| South Kaliapani | 54 | 11682 | 11697 | 13832 | 8800 | 8800 |
| 52-54 | 10601 | 10736 | 13010 | 8800 | 8800 | |
| 48-50 | 9904 | 9904 | 12051 | 7500 | 7500 | |
| 46-48 | 7390 | 8535 | 10459 | 2900 | 2900 | |
| 44-46 | 6184 | 7501 | 9637 | 2900 | 2900 | |
| Sukrangi Mines | 54 | 11051 | 11551 | 13169 | 100 | 100 |
| 52-54 | 10570 | 10770 | 12905 | 300 | 300 | |
| 50-52 | 10002 | 10002 | 11738 | 100 | 100 | |
| 46-48 | 7336 | 8186 | 10810 | 600 | 600 | |
| 42-44 | 4903 | 5953 | 7779 | 400 | 400 |
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