State-owned, Odisha Mining Corporation (OMC), has put forward an e-auction for 815,000 MT iron ore on 01 June’16. The ore has been offered from Gandhamardan, Koira and Daitari mines.
The miner has notified a sale of 815,000 MT iron ore which consists of 560,000 MT CLO & 255,000 MT fines.
The company has not corrected base prices for the upcoming e-auction. However, in some grades, there is a slight decrease of INR 50/MT for coming e-auction.
In its previous e-auction conducted on 18 Apr’16, total 55% of the offered quantity was sold i.e. 363,000 MT out of 625,000 MT mainly from Gandhamardan, Koira and Daitari mines. The material sold had been procured by mainly sponge makers and steel makers from Odisha, C.G. and West Bengal region.
Base price comparison of OMC iron ore e-auctions
| Mines | Size (mm) | Fe (%) | Base Price on 01 Jun’16 |
Base Price on 18 Apr’16 |
Change (%) | Quantity (MT) |
| Gandhamardan | 10-40 | 62 | 1,750 | 1,750 | – | 70,000 |
| 5-18 | 65 | 2,200 | 2,200 | – | 20,000 | |
| 10-180 | 65 | 1,500 | 1,550 | 3.2% | 35,000 | |
| -10 | 62-60 | 800 | 800 | – | 135,000 | |
| Kurmitar (Koira) | 10-40 | 62 | 1,700 | 1,750 | 2.8% | 300,000 |
| -10 | 62-60 | 900 | 900 | – | 70,000 | |
| Daitari | 10-40 | 62 | 1,800 | 1,800 | – | 135,000 |
| -10 | 64-62 | 1,350 | 1,350 | – | 50,000 | |
| Total | 815,000 | |||||
Base prices in INR/MT on ex-mines basis; including of royalty
Source: SteelMint Research
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