Odisha Mining Corporation had scheduled its iron ore e-auction today (21st Dec’19). The auction conducted was for 352,000 MT iron ore fines.
As per the sources, the entire quantity has been booked in today’s e-auction. Lots offered from Gandhamardhan mines received flat bids. However, bids fetched in Koira mines were higher by INR 650-700/MT over the set base price. Lots offered from Daitari received bids higher by INR 200-250/MT.
As per the information received from sources, Vizag Steel has booked around 80,000 MT fines in today’s auction.
No traders were allowed to take part in the e-auction.
Price comparison of OMC iron ore e-auctions-:
| Mines | Size | Fe (%) | Base Price as on 21st Oct’19 | Bid Price as on 21st Oct’19 | Base Price as on 21st Dec’19 | Bid Price as on 21st Dec’19 | Quantity offered | Quantity sold |
| (mm) | (INR/MT) | (INR/MT) | (INR/MT) | (INR/MT) | (MT) | (MT) | ||
| Gandhamardan | -10 | 60-62 | 1,000 | 1,100-1,150 | 1000 | 1,000-1,050 | 187,000 | 187,000 |
| -10 | 64-62 | 1500 | 1,500-1,550 | 12,000 | 12,000 | |||
| Kurmitar (Koira) | -10 | 62-60 | 950 | 1,400-1,450 | 1100 | 1,650-1,700 | 45,000 | 45,000 |
| Daitari | -10 | 64-62 | 2,000 | 2,100-2,150 | 2000 | 2,200-2,250 | 108,000 | 108,000 |
| Total | 352,000 | 352,000 | ||||||
EC limit at Daitari mines is proposed to be increased to 6 MnT p.a. from current EC of 3 MnT pa. On similar lines, the EC limit at OMC’s Kurmitar mines is proposed to be increased from current 2.4 MnT p.a to 6 MnT p.a.
Odisha based major merchant miners raised Iron ore offers towards mid of the month by INR 300-400/MT on aggressive booking made by large steel mills in order to secure iron ore before mining auction.
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