Industrial Development Corporation of Odisha Limited (IDCOL) had invited bidders for sale of 10,000 MT low grade chrome ore (below 30%). However the tender got cancelled as there was less participation.
Chrome ore demand is sluggish in the market on the back of poor ferro chrome market. Ferro chrome prices have dropped extensively on very low demand.
Another reason for low participation could be that most producers are waiting for the OMC chrome ore auction which was held on 23 Feb’15.
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