Odisha’s state-owned miner- Odisha Mining Corporation (OMC) scheduled its Chrome ore e-auction yesterday (28th May’20). Out of the total quantity of 126,400, MT offered, only 42,400 MT got sold.
The miner had increased the base price of Chrome ore by up to 16% against the last auction which was held on 28th Apr’20. Higher graded ores received a better response as the ores above 48% Cr. got booked at approximately 25% higher than the base prices. Meanwhile, the bid prices are at an average 14% higher to the base price, and significantly higher as compared to the April auctions.
| OMC Chrome Ore Auction held on 28th May 2020 | |||||||
| Mines | Grade (Cr2O3) | Base Price (INR/WMT) | Quantity offered for e-auction (WMT) | Bid Quantity (WMT) | Weighted Avg, Price (INR/WMT) | Percentage Increase Over Base Price | Residue Quantity (WMT) |
| South Kaliapani Chromite Mines | .+54% | 7,655 | 3,900 | 3,900 | 9,804 | 28.07 | – |
| 52-54 | 7,371 | 3,300 | 3,300 | 9,307 | 26.26 | – | |
| 48-50 | 6,804 | 3,300 | 3,300 | 8,407 | 23.56 | – | |
| 46-48 | 6,521 | 4,500 | 4,500 | 7,474 | 14.61 | – | |
| 44-46 | 6,237 | 5,400 | 5,400 | 6,652 | 6.65 | – | |
| >40% | 1,941 | 1,00,000 | 18,300 | 1,941 | 0 | 81,700 | |
| Sukrangi Chromite Mines | 50-52 | 7,088 | 100 | 100 | 8,888 | 25.39 | – |
| 48-50 | 6,804 | 100 | 100 | 8,404 | 23.51 | – | |
| 46-48 | 6,521 | 700 | 700 | 7,092 | 8.76 | – | |
| 44-46 | 6,237 | 2,000 | 2,000 | 6,337 | 1.60 | – | |
| 42-44 | 5,954 | 3,100 | 800 | 5,954 | 0 | 2,300 | |
| Total | 1,26,400 | 42,400 | 84,000 | ||||
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