State-owned miner OMC’s auction for 35,100 t of chrome ore lumps from South Kaliapani and Sukrangi mines on 26 May’21 received poor response with only 10% of the total quantity offered fetching bids at the floor price, as per SteelMint reports. The auction was highly anticipated by chrome alloys smelters as they were expecting higher cuts in the base price. Meanwhile, producers are seeking low-cost ore from Tata Steel Mining Ltd (TSML), which was yet another reason for lack of interest in OMC’s auction.
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