OMC Chrome ore prices have dropped further upto 11% in the January round of chrome ore e-auction. The prices of +54 grade friable chrome ore of South Kaliapani mines have dropped upto 11% to INR 8,998 from INR 10,191 in December 2015. The 52-54 grade friable also dropped by 9% to INR 8669 from INR 9,525 December. Similarly, 48-50 grade and 46-48 grade has also dropped by 11% to INR 6432 and INR 6168 respectively. The price of 48-50 grade of Sukrungi mines has also dropped to INR 6,332 from INR 7,235 in December. The concentrate prices of 48-50 grade has dropped to INR 6,572 from INR 7,510 in the previous e-auction in December.
VISA, JSL, Shyam Ferro are the major buyers in the e-auction. While VISA has brought 2,900 MT friable of 48-50 grade and 2,000 MT of 46-48 grade, JSL has brought 3,000 MT of 48-50 grade. Shyam Ferro has got an allocation of 3,500 MT of 46-48 grade friable. On the other hand PL Alloys got 1,000 MT ( 52-54 grade) and Arti Steel 1,500 MT ( 46-48 grade).
OMC had offered 39,400 MT of chrome ore including 35,100 MT of friable and 4,300 MT of concentrate ore in the e-acution held on 25th of January. OMC has cut base price of the ore upto 12% to woo buyers.
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