Odisha Mining Corporation (OMC) has put forward an e-auction for 357,000 MT iron ore ( 96,000 MT lump and 261,000 MT fines) to be held on 13 Jan’16. The material has been offered from Barbil, Daitari and Koira mines.
The company has kept base prices unchanged for Barbil and Daitari mines for all the material offered in the upcoming e-auctions against previous e-auctions. Reduction of 5.4% in base prices of lump (10-40 Fe 62) and 10% for fines have been done for Koira mines.
If we talk about the last auction, the company offered 195,000 MT iron ore in the auction conducted during Dec’15. The company had received moderate response as almost 49% (96,000 MT) of the material offered was sold. As per sources, material was basically procured by sponge manufacturers and fines by Rashmi Metalliks and few traders.
Base price comparison of OMC iron ore e-auctions
| Mines | Size (mm) | Fe (%) | Base Price on 13 Jan’16 |
Base Price on 30 Nov’15 |
Change (%) | Quantity (MT) |
| Barpada Kasia (Barbil) | 10-40 | 62 | 1,600 | 1,600 | – | 11,000 |
| -10 | 62-60 | 1,000 | 1,000 | – | 11,000 | |
| Kurmitar (Koira) | 10-40 | 62 | 1,750 | 1,850 | 5.4% | 150,000 |
| -10 | 62-60 | 900 | 1,000 | 10% | 50,000 | |
| Daitari | 10-40 | 62 | 1,800 | 1,800 | – | 100,000 |
| -10 | 64-62 | 1,400 | 1,400 | – | 35,000 | |
| Total |
357,000 |
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Base prices in INR/MT on ex-mines basis; including of royalty
Source: SteelMint Research
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