OMC Chrome Ore Prices down for Outside-State Buyers in July

Bhubaneswar: Chrome ore prices of Odisha mining Corporation (OMC) has declined for the outside state buyers in the e-auction held on 18 Jul, 2014. However, the prices for the inside-state buyers have changed slightly, except for few grades like 50-52 &46-48.

There were 61,000 MT friable chrome ore and 5,000 MT of concentrate on offer. +54 grade friable ore for the inside-state buyers have been corrected by 2% to INR 15,193/MT against June price to INR 15,481/MT. But, the prices of the same grade for the outsiders had declined by 12% to INR 12,193/MT, which was INR 13,881/MT in June auction.

The prices for 52-54 grade has increased by just 1% to INR 15,760/MT, which was INR 15,552/MT in the previous month. However, the prices for the same grade for the outsiders have decreased by 12% to INR 11,560/MT against INR 13,152/MT in the month of June.

On the other hand, 50-52 grade price for the inside state buyers has increased by 14% to INR 13,687/MT compared to INR 11,995/MT in June, whereas for the outside buyers, the prices corrected to INR 9,387/MT, which was fixed at INR 11,595/MT in June, 2014.

Among the inside state buyers, JSL has managed to get the highest allocation of 12,800 MT fribale and 4,400 MT concentrate Chrome ore. The company is followed by Navbharat Ventures with 11,900 MT of friable Chrome ore and Rohit Ferrotech with 9,000 MT and VISA with 5,500 MT.

Among the outside quota, Srivasavi has got an allocation of 6,200 MT and Rohit Ferrotech’s West Bengal unit has got 5,700 MT.

 OMC Chrome Ore E-auction (18 Jul, 2014)