The OMC Chrome Ore e-auction which was held on 26 Nov’16 received an outstanding response. OMC in this round of auction had offered friable chrome ore and chrome concentrate at a quantum of 54,500 MT and 4,800 MT respectively.
The company offered 42,000 MT of friable chrome ore from South Kalapani Chromite Mines, 12,500 friable chrome ore from Sukrangi Chromite Mines and the whole 4,800 MT chrome concentrate from COBP Kalapani.
As per the market sources, the action received an excellent response where all the lots offered received bids. Grade 48-50% friable chrome ore was bid at a substantial high price, witnessing a hike of 95.6% over its base price. The base price of the same was set at INR 12,757/MT (USD 185.7) and the bid received was recorded at INR 24,957/MT (USD 363.3).
Aggressive bidding in this round of Chrome Ore auction can be attributed to a substantial rise in demand for Indian Ferro Chrome from China and soaring prices of Ferro Chrome exported to China.
OMC Chrome Ore E-Auction Prices
|
Grade |
Base Price |
H1 Price |
|
54%+ |
15,137 |
28,537 |
|
52-54% |
15,137 |
27,737 |
|
48-50% |
12,757 |
24,957 |
|
46-48% |
12,069 |
22,069 |
|
44-46% |
9,516 |
22,816 |
|
Sukrangi 52-54% |
15,137 |
25,937 |
Prices in INR/MT
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