At the Odisha Mining Corporation (OMC) chrome ore auction today, 59,400 t were sold out of 114,600 t offered. Bids for grades above 40% increased by 13-17% (INR 2,498 – 3,545/t) m-o-m, while bids for grades below 40% rose by about 10% (INR 997/t). Bids also exceeded base prices by 3-5% (INR 700 – 1,300/t). The price increase is likely driven by the recent rise in ferro chrome prices and stable end-user demand.
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