IDCOL’s ferro chrome auction receives aggressive bidding on lower base price

IDCOL conducted an auction for 1,200 t of ferro chrome (lump, chips, and powder) on 19 Apr’22 at its Jajpur plant. Over 800 tons of lump-sized material (10-100mm, Si-4%,) was booked at INR 118,700/t, 8% above the floor price as floor prices were comparatively lower than current market prices. Meanwhile, 50 tons of lump-sized material (10-100 mm, Si-2%), was booked by 11% over the floor price, sources informed.