OMC’s Chrome ore prices continue to decline because of low demand. In the Chrome ore e-auction held on 2 Mar’15, prices of +54 grade Friable Chrome ore have declined further by 15% to INR 12,541/MT from INR 14,679/MT a month ago. Prices have fallen by 7% from INR 15,804/MT in the previous e-auction held on 28 Jan, 2015.
Similarly, 50-52 grade Friable ore prices have also decreased by 6% to INR 12,436/MT from INR 13,286/MT a month ago. Prices have declined by 4% in the January round of e-auction from INR 13,871/MT. Meanwhile, the highest downfall in prices have been witnessed in 46-48 and 42-44 grade band. 46-48 grade prices have fallen by 34% to INR 9,543/MT from INR 14,394/MT. In line, 42-44 grade prices have decreased by 34% to INR 9,350/MT from INR 14,102/MT in January e-auction.
On the other hand, prices of 52-54 grade Friable ore have increased by 10% to INR 13,188/MT from INR 12,028/MT.
Chrome Ore E-auction dated 2 Mar’15
| Location | Grade Band | Auction Quantity (in WMT) | Floor Price (INR/WMT) | Pre-bid EMD (INR/WMT) | L1 Price | H1 Price | Premium (INR) | Last Booked / H1 | Variance (%) |
| 28.01.2015 | |||||||||
| South Kaliapani – Chrome Ore | 54+ Cr2O3 | 7,800 | 12,241 | 612 | 12,441 | 12,541 | 300 | 14,679 | -15 |
| 52-54 Cr2O3 | 5,100 | 11,788 | 589 | 13,088 | 13,188 | 1,400 | 12,028 | 10 | |
| 50-52 Cr2O3 | 200 | 9,836 | 492 | 12,436 | 12,436 | 2,600 | 13,286 | -6 | |
| 48-50 Cr2O3 | 4,800 | 9,443 | 472 | 9,543 | 9,543 | 100 | 14,394 | -34 | |
| 46-48 Cr2O3 | 3,000 | 9,050 | 453 | 9,250 | 9,350 | 300 | 14,102 | -34 | |
| 42-44 Cr2O5 | 100 | 8,263 | 413 | 9,863 | 9,863 | 1,600 | 10,920 | -10 | |
| Sukrangi | 48-50 Cr2O3 | 300 | 9,443 | 472 | 13,043 | 13,043 | 3,600 | 13,694 | -5 |
| 46-48 Cr2O3 | 300 | 9,050 | 453 | 11,550 | 11,650 | 2,600 | 14,402 | -19 | |
| COBP | 50-52 Cr2O3 | 400 | 11,750 | 588 | 13,450 | 13,450 | 1,700 | 13,191 | 2 |
| 48-50 Cr2O3 | 400 | 9,804 | 490 | 12,904 | 13,004 | 3,200 | 9,853 | 32 | |
| 38-40 Cr2O3 | 200 | 7,843 | 392 | 7,943 | 7,943 | 100 | 8,302 | 32 | |
| Total | 22,600 | ||||||||
Source: SteelMint Research
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