Odisha Mining Corporation has scheduled its next iron ore fines e-auction on 21st Dec’19 for 352,000 MT.
The material put under the hammer is from Gandhamardan, Daitari and Koira mines. No traders shall be allowed to take part in the e-auction.
Base price for fines offered from Koira mines increased by INR 150/MT to INR 1100/MT as against base price in last e-auction at INR 950/MT. The miner has kept the base prices stable for material offered from Daitari and Gandhamardhan mines.
Price comparison of OMC iron ore e-auctions-
| Mines | Size | Fe (%) | Base Price as on 12th Sep’19 | Base Price as on 21st Oct’19 | Bid Price as on 21st Oct’19 | Base Price as on 21st Dec’19 | Quantity offered |
| (mm) | (INR/MT) | (INR/MT) | (INR/MT) | (INR/MT) | (MT) | ||
| Gandhamardan | -10 | 60-62 | 1,100 | 1,000 | 1,100-1,150 | 1,000 | 187,000 |
| -10 | 64-62 | – | – | – | 1,500 | 12,000 | |
| Kurmitar (Koira) | -10 | 62-60 | 1,050 | 950 | 1,400-1,450 | 1,100 | 45,000 |
| Daitari | -10 | 64-62 | 2,100 | 2,000 | 2,100-2,150 | 2,000 | 108,000 |
| Total | 352,000 | ||||||
Base prices in INR/MT on ex-mines basis; including royalty
Source: SteelMint Research
EC limit at Daitari mines is proposed to be increased to 6 MnT p.a. from current EC of 3 MnT pa. On similar lines, EC limit at OMC’s Kurmitar mines is proposed to be increased from current 2.4 MnT p.a to 6 MnT p.a.
Odisha based major merchant miners raised Iron ore offers yesterday (17th Dec) by INR 300-400/MT on aggressive booking made in last few weeks by large steel mills in order to secure iron ore before mining auction.
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