Bhubaneswar: OMC to conduct e-auction for 1 lakh tonnes (including concentrate) Chrome Ore on 15th of October. Last time the e-auction was held in 11th of this month, where total 61,700 tonnes of Chore ore was on offer consisting of 49,000 tonnes of Friable and 12,700 tonnes of Concentrate Ore.
The price of the 54+ grade friable (for inside state quota) has increased by 28 % against the same grade from the last e-auction held in August .While the price of 54+ grade in the August e-auction was at INR 12,037 per tonne, this time it has gone up to INR 15,522 per tonne. Similarly the price of the 52-54 grade for the outside state quota has been increased to INR 14,622 per tonne which was 13,737 per tonne in the previous auction.
The prices have increased by 16% of the base price for the state quota and the prices for the outside quota have gone up by 9.5% of the base price for the outside quota. Concentrate prices has gone up by 2.7% of the base price.
“Prices went up due to lower amount of material available for sale and on expectation of better demand for the stainless steel making ingredient” said a participant.
Allotments
JSL has been allotted 15000 tonne from the state quota, Jabamayi 3200 tonne,Rohit Ferrotech 7500 tonne and
VISA has been allotted 5000 tonnes of friable ore.
Final approved prices
Total 61,700 tonne (70% state and 30% outside quota)
Friable: 49,000 MT
Concentrate: 12,700 MT
Grade State Outside (INR / MT)
54+ 15522 14622
52-54 14468 12768
50-52 14209 13109
48-50 11324 12824
46-48 11713 12613
44-46 11509 9709
42-44 11136 8936
Concentrate (INR / MT)
38-40 8482
42-44 9677
46-48 11788
48-50 12472
Reported by Tapan Moharana
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