The company has reduced base prices for few grades upto INR 300/MT in the upcoming e-auction.
Odisha Mining Corporation has re-scheduled its iron ore e-auction for 400,000 MT on 08 Oct’15. Due to moderate response received in the last e-auction conducted on 26 Sept’15, the company is re-auctioning the leftover material from the previous one.
Material has been offered from Koira and Gandhamardhan mines.The company has cut prices for some grades, and has kept others unchanged against previous e-auction conducted on 26 Sept’15.
For material offered from Koira Mines (Fe 62) 10-40 mm, the company has reduced prices by INR 300/MT. On similar lines, the company has reduced prices for material offered from Gandhamardhan mines (10-40 mm Fe 62%) by INR 50/MT.
Base Price Comparisons of OMC Iron ore E-auctions
| Mines | Size (mm) | Fe (%) | Base Price on 08 Oct’15 |
Base Price on 26 Sept’15 |
Base Price on 17 Jun’15 | Change % | Qty offered (MT) |
| Koira | 10-40 | 62 | 2,200 | 2,500 | – |
12% | 270,000 |
| -10 | 56-52 | 900 | – | 900 | 0 | 40,000 | |
| Gandhamardan | 10-40 | 62 | 2,350 | 2,400 | – | 2% | 70,000 |
| 10-180 | 65 | 2,000 | 2,000 | – | 0 | 20,000 | |
| Total | 400,000 | ||||||
Qty in MT
Base & bid price in INR/MT on ex-mines basis; including of royalty
Source: SteelMint Research
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