State-owned Odisha Mining Corporation (OMC), recently conducted an e-auction for Chrome Ore on 6th Mar’17. Total quantity offered – 32,500 MT from mines and 4,600 MT material offered from Paradip Port.
As per sources, all the Chrome Ore auctioned found bids and there is no unsold stock. Most of the material were offered from South Kaliapani Chromite mines which received overwhelming response.
The bid price on an average registered a hike of around 11% over the base price.
Chrome Ore grade +54% recorded the highest bid over the base price in this auction, which is around 61% above its base price. In contrast to the previous auction, the bid price is higher by 36%. For, 54% grade material OMC received 3 bids at – INR 20,400, INR 21,014 and INR 20,814/MT.
However, the current auction of all grades combined, registered a fall of 6% on average in hike over base price, when compared to the previous auction’s H1 price. The best performing Chrome Ore grades are 46% to +54% from South Kaliapani Chromite Mines with respect to hike over base price.
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