State-Owned, Odisha Mining Corporation (OMC) conducted the e-auction on 24 Oct’19. The auction received a positive response as the entire quantity was booked at approximately 14% higher than the base price. In the current scenario, many Ferro Chrome producers are low in inventory and in the last month’s, OMC auctions received overwhelming response. However, the demand for Chrome ore still persists and the base price was increased by 15% for the current auction. Meanwhile, a lower graded (40%) bulk quantity of 60,000MT was also put up for auction.
OMC offered a total of 91,000MT Chrome Ore for auction, of which 90,000MT Friable Chrome Ore is from South Kalapani Chromite Mines and 1000 MT from Sukrangi Chromite Mines.
The bid received for the Friable Ores are in the range of INR 12,413 – 12,513/MT for +54% grade, INR 11,824-11,924/MT for 52-54% grade, INR 10,895-10,995/MT for 48-50% grade. The lower grades from South Kaliapani Mines received the highest response as the 46-48% were booked at 26% higher than the base price and 44-46% were booked at 18% higher prices than the base price. Meanwhile, the 46-48% graded ores from Sukrangi Mines were booked at 16% higher than the base price.
| OMC Chrome Ore Auction held on 24 Oct 2019 | ||||||
| Mines | Grade (Cr2O3) | Base Price (INR/MT) | Quantity offered for e-auction (MT) | Bid Quantity (MT) | Weighted avg Price (INR/WMT) | Percentage change over Base Price |
| South Kaliapani Chromite Mines | .+54% | 11,213 | 14,100 | 14,100 | 12,492 | 11.41 |
| 52-54 | 10,324 | 7,500 | 7,500 | 11,897 | 15.24 | |
| 48-50 | 9,495 | 4,500 | 4,500 | 10,955 | 15.38 | |
| 46-48 | 8,182 | 1,800 | 1,800 | 10,338 | 26.35 | |
| 44-46 | 7,506 | 2,100 | 2,100 | 8,877 | 18.27 | |
| Sukrangi Chromite Mines | 52-54 | 10,324 | 100 | 100 | 10,724 | 3.87 |
| 50-52 | 9,896 | 100 | 100 | 9,996 | 1.01 | |
| 46-48 | 8,182 | 300 | 300 | 9,482 | 15.89 | |
| 44-46 | 7,506 | 400 | 400 | 7,506 | – | |
| 42-44 | 7,164 | 100 | Nil | 7,164 | – | |
| Total | 31,000 | 30,900 | ||||
| South Kaliapani Chromite Mines | 40 | 2,014 | 60,000 | 50,300 | 2014 | – |
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