Orissa Mining Corporation, a state-owned miner which had floated a tender for sale of 85,000 MT Iron ore lumps for Q1 FY15, has received very thin response from the steel mills. Sources who participated in this tender mentioned that only 8 participants were interested for it. Also, prices went down by INR 150-1,000/MT.
OMC produces around 3 MnT of Iron ore, out of which almost 90% ore has been reserved for state based mills like Bushan, Visa & Maithan. Another 10% is being tendered, which is for both state and outside states mills.
There was no participation for some material. Speaking to manufacturers, Steelmint assessed that buyers are in wait & watch condition in this month as most of them anticipates that merchant Iron ore miners in odisha may cut their offers.
Current Bids
|
Mines |
Size (mm) |
Grade (IN %) |
Qty Tendered (In MT) |
H-1 Bidder |
Apr-Jun’14 |
Jan-Mar’14 |
Oct-Dec’13 |
|
Barbil |
10-40 |
62 |
15,000 |
– |
– |
2,511 |
3,701 |
|
Gandhamardan |
10-40 |
62 |
10,000 |
Unsold |
– |
3,531 |
3,303 |
|
Gandhamardan |
10-180 |
65 |
5,000 |
Priti Pragaya |
3,027 |
3,355 |
3,710 |
|
Koira |
10-40 |
62 |
40,000 |
Prakash Ind |
3,810 |
4,855 |
4,501 |
|
Koira |
5-18 |
65 |
1,500 |
Go Indian |
4,053 |
– |
– |
|
Daitari |
10-40 |
62 |
8,100 |
Visa Steel |
3,150 |
3,303 |
3,501 |
Prices in INR/MT; Prices on Ex-mines basis, including Royalty
Prices have been corrected over weak demand from Sponge manufacturers and also due to the option of buying high grade Pellets at almost equivalent price.
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