The Odisha Mining Corporation (OMC), state owned miner, has received much lower bids for its Chrome Ore e-auction which was recently concluded. This time a total of 1,33,000 tons was up for auction, out of which 70% was reserved for local units based in Odisha and the remaining 30% allocated for units outside the State of Odisha.
H1 price for Chrome Ore Grade (54+) was established at Rs. 15,166/t by plants in Odisha and Rs 13,366/t by plants outside Odisha. The last auction attracted H1 bid of Rs 17,279 for the same grade.
H1 price for Chrome Ore Grade (52-54) was established at Rs 13,173 by plants in Odisha and Rs 12,073 by plants outside Odisha. The last auction attracted H1 bid of Rs 17,073 for the same grade.
H1 price for Chrome Ore Grade (48-50) was established at Rs 11,816 by plants in Odisha and Rs 11,916 by plants outside Odisha. The last auction attracted H1 bid of Rs 16,222 for the same grade.
H1 price for Chrome Ore Concentrate Grade (46-48) was established at Rs 11,460 by plants in Odisha and the last auction attracted H1 bid of Rs 11,090 for the same grade.
H1 price for Chrome Ore Concentrate Grade (42-44) was established at Rs 7,953 by plants in Odisha and the last auction attracted H1 bid of Rs 9,096 for the same grade.
All prices mentioned are Basic, including Royalty.
SteelMint assessed that the fall in Ferro Chrome prices in last one month and meltdown in Stainless Steel prices globally, has influenced the bidding rationale for Chrome Ore.
Current offers for HC FeCr are in range of Rs 69,000-71,000/t (Ex India), which was earlier trading at Rs 75,000/t (Ex-India) in the month of March.
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