OMC Iron ore lump e-auction held today received a moderate response with 50% of the Iron ore lump receiving bids.
OMC had put forward 155,000 MT Iron lumps for auction today. The material has been offered from Barbil, Gandhamardan and Daitari mines. OMC had reduced the lump base prices by 23% for Gandhamardan mines while for the remaining mines base prices remain unchanged against previous e-auctions.
Only 50% (77,000 MT) of the Iron ore lump offered received bids. The e-auction fetched flat bids.
OMC Iron Ore Lump E-auction Details
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Iron Ore Lumps |
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| Region | Size | Grade | Base Price | Bid Price | Offered Qty (MT) | Sold Qty (MT) | Remarks |
| (mm) | (Fe%) | ||||||
| Barbil | 10-40 | 62 | 3,237 | – | 15,000 | Nil | No Bids |
| Gandhamardan | 10-40 | 62 | 3,000 | 3,000 | 30,000 | 4,000 | – |
| Gandhamardhan | 10-180 | 65 | 2,650 | 2,650 | 10,000 | 10,000 | Completely Sold |
| Daitari | 10-40 | 62 | 3,000 | 3,000 | 100,000 | 63,000 | 30,000 MT: Visa 25,000 MT: Aarti 4,000 MT: KL Ispat 4,000 MT: Bidder Unknown |
| Total | 155,000 | 77,000 | |||||
Prices in INR/MT on ex-mines basis; inclusive of royalty
* Provisional data as per participants and market sources
The previous e-auctions of OMC had also received poor responses, where the company was able to sell only 13% Iron ore and hence was compelled to re-auction the left over material.
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