State-owned miner OMC has lowered the base price for its upcoming chrome ore auction on 17 June’22 by 25% over the previous auction on 19 May. The base price for the auction has been reduced to reflect the 10% m-o-m drop in domestic ferro chrome prices in June’22, sources informed. Approximately 21% (17,800 t) of the total quantity of 84,400 t was booked at the floor price in the last auction.
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