Odisha’s state-owned miner- Odisha Mining Corporation (OMC) had scheduled its iron ore fines e-auction yesterday (3rd July’20). Out of the total quantity of 370,000 t, only 52% of the total material i.e 191,000 t received bids. The bids received for the complete quantity of 191,000 t were flat i.e at floor price. The base price of the material offered was stable as against the last fines e-auction conducted on 30th Apr’30.
The complete quantity of material put to auction from Daitari and Koira mines were sold. However, only 16,000 t of material sold from Gandhamardan mines, while 179,000 t remained unsold.
Vizag Steel remained the largest bidder at 105,000t followed by JSW Steel and Bajrang Power & Ispat. Other bidder were – Narsingh Ispat, Rashi Steel etc.
Bid price comparison of OMC iron ore E-auctions
Base prices in INR/t on ex-mines basis; including royalty
Source: SteelMint Research
Odisha – India’s largest iron ore producing state recorded production at 6.18 mn t in May’20, up 15%, as against 5.37 mn t in Apr’20, according to the provisional data of Odisha Govt. maintained by SteelMint. OMC output recorded at 1.08 mn t, a rise of 18% as compared to 0.92 mn t in Apr’20.
Leave a Reply