Chrome ore auctioned by Odisha Mining Corporation (OMC) in the last week of November has fetched higher price due to limited amount of material on offer. While, the price of 54+ grades has moved up to INR 16,052/MT, 52-54 grade price has increased to INR 15,906/MT.
On the other hand, the price of 48-50 grade Chrome ore concentrate has moved northwards to INR 12,049/MT and the price of 46-48 grade has increased to INR 10,663/MT. The e-auction conducted by MSTC on 28 Nov, 2014 has seen wide participation by buyers throughout the country, though only 13,500 MT of Friable and 1,000 MT of Concentrate ore was on offer.
Out of 13,500 MT Friable ore, Tirumala Balajee has recieved an allocation of 4,200 MT, followed by Rohit Ferrotech (West Bengal) with 3,600 MT. Jammu based Tawi Chemicals has recieved an allocation of 600 MT. On the other hand, VISA, Rohit Ferrotech and Tirumala have got allocations of concentrate Chrome ore.
In November round of Chrome ore e-auction, OMC has kept only 13,500 MT of Friable and 1,000 MT of Concentrate ore and the auction was open for both the inside & outside state buyers. However, only the outside-state based buyers have brought major amount in this round of e-auction, but on the basis of these prices, OMC would supply Chrome ore to the state based units. As per the decision of the Odisha government, OMC is going to enter into long-term raw material supply agreements with the state based Ferrochrome makers.
OMC Chrome Ore Prices in Nov’14
| Friable | |
| Grade | Current Price |
| 54 | 16,052 |
| 52-54 | 15,906 |
| 50-52 | 12,781 |
| 48-50 | 10,494 |
| 46-48 | 13,407 |
| 42-44 | 10,132 |
Prices in INR/MT
| Concentrated | |
| Grade | Current Price |
| 48-50 | 12,049 |
| 46-48 | 10,663 |
| 42-44 | 8,491 |
Prices in INR/MT
| Allocations in MT | |
| Company | Quantity |
| Tirumala | 4,200 |
| Arati | 400 |
| Rohit(WB) | 3,600 |
| P.L.Alloys | 1,300 |
| Tawi Chemicals | 600 |
| VISA | 900 |
Source: SteelMint Research
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