Odisha Mining Corporation (OMC), a state-owned miner has scheduled its next e-auction on 4 Aug’17 for 297,900 MT iron ore lump. The material to be put under hammer is from Gandhamardan, Daitari and Koira mines.
The miner has reduced base prices on all the lots against the previous iron ore lump e-auction which was held on 05 Jun’17.
Iron ore lump base prices offered from OMC’s Gandhamardhan and Daitari mines have observed reduction of INR 200/MT (USD 3/MT). While that offered from Koira mines have come down by INR 450/MT (USD 7/MT).
Base Price comparison for OMC iron ore e-auction:
|
Mines |
Size | Fe (%) | Base Price | Base Price | Base Price | Change | Change | Quantity |
| (mm) | as on 6 Apr’17 | as on 05 Jun’17 | as on 04 Aug’17 | (in INR/MT) | (in %) |
(MT) |
||
| Gandhamardan | 10-180 | 65 | 1,900 | 1,900 | 1,700 | -200 | -10.50% | 5000 |
| 10-40 | 62 | 2,200 | 2,200 | 2,000 | -200 | -9% | 70,000 | |
| 10-30 | 62 | – | 2,200 | 2,000 | -200 | -9% | 2,900 | |
| Kurmitar (Koira) | 10-40 | 62 | 2,700 | 2,750 | 2,300 | -450 | -16% | 150,000 |
| Daitari | 10-40 | 62 | 2,550 | 2,600 | 2,400 | -200 | -8% | 70,000 |
| Total | 297,900 | |||||||
Base prices in INR/MT on ex-mines basis; including royalty
Source: SteelMint Research
Previous OMC e-auction received dull response – OMC’s last e-auction was conducted on 06 Jul’17 through which 249,000 MT iron ore fines was offered. The miner had cut base prices up to INR 200/MT for the e-auction. As per report of market participants the e-auction fetched poor response with almost entire quantity remaining unsold.
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