In the October round of Chrome Ore auction, OMC received a fantastic response, as the entire quantity of friable chrome ore received bids at an average of about 35% above the base price.
State-owned, Odisha Mining Corporation (OMC) recently conducted the e-auction, offering a total of 32,500 MT friable chrome ore. Out of which 30,300 MT was put under the hammer from South Kaliapani and rest 2200 MT from Sukrangi.
The bid received for the friable ores are at a weighted average price of INR 16,933/MT for +54% grade, INR 16,096/MT for 52-54% grade, INR 14,637/MT for 50-52% grade, INR 14,802/MT for 48-50% grade, INR 13,488/MT for 46-48% grade, INR 12,495/MT for 44-46% grade and INR 11,507/MT for 42-44%.
Such an encouraging response of OMC Chrome Ore auction can be attributed to the bullishness in Ferro Chrome market, as market participants expect Ferro Chrome prices to head northwards.
| Mines | Grade | Base Price | Previous Base Price | Weighted Avg. Bid Price | Previous Bid Price | Offered Quantity | Allocated Quantity |
| South Kaliapani | +54 | 12907 | 11294 | 16933 | 13027 | 11300 | 11300 |
| 52-54 | 11847 | 10366 | 16096 | 12395 | 7400 | 7400 | |
| 48-50 | 10928 | 9562 | 14802 | 11273 | 5300 | 5300 | |
| 46-48 | 9418 | 8241 | 13488 | 10788 | 3000 | 3000 | |
| 44-46 | 8277 | 7242 | 12495 | 10035 | 3300 | 3300 | |
| Sukrangi Mines | +54 | 12746 | 11153 | 16246 | 12353 | 100 | 100 |
| 52-54 | 11885 | 10399 | 15385 | 11799 | 100 | 100 | |
| 50-52 | 11037 | 9657 | 14637 | 11424 | 100 | 100 | |
| 48-50 | 10595 | 9271 | 14795 | 10971 | 800 | 800 | |
| 46-48 | 9033 | N/A | 12333 | N/A | 100 | 100 | |
| 44-46 | 8640 | 7904 | 12740 | 9854 | 500 | 500 | |
| 42-44 | 8247 | 7216 | 11507 | 8633 | 500 | 500 |
Leave a Reply