Odisha Mining Corporation (OMC) has put forward 256,000 MT Iron ore (110,000 MT Fines & 146,000 MT Lump ) to re-auction through MSTC.
The company has cut CLO & fines prices by upto 21% and 14% respectively. E-auction is scheduled on 25 May’15. The material offered are from Barbil, Gandhamardan, and Daitari mines.
OMC had conducted an Iron ore e-auction on 12 May’15 for 348,000 MT Iron ore. The e-auction received extremely cold response owing to high base prices. With most of the lots remaining unsold, the company decided to re-auction the material.
Hence, the company has reduced base prices by upto 21% against last e-auction. Base prices of fines have been reduced in the range of 6-14% and lump base prices have witnessed fall of 18-21%.
Base Price Comparison in Iron Ore E-auctions
| OMC Mines | Size (mm) | Grade (Fe %) | Base Prices | Change | Qty Offered | ||
| E-auction scheduled on 25 May’15 |
E-auction held on 12 May’15 |
In (INR/MT) | In (Percentage) | ||||
| Barbil | 10-40 | 62 | 2,500 | 3,050 | -550 | -18 | 8,000 |
| Gandhamardan | 10-40 | 64 | 2,500 | – | – | 58,000 | |
| 10-180 | 65 | 2,100 | 2,650 | -550 | -21 | 20,000 | |
| -10 | 62 | 1,432 | 1,520 | -88 | -6 | 50,000 | |
| Daitari | 10-40 | 64 | 2,600 | – | – | – | 60,000 |
| -10 | 64-62 | 1,700 | 1,900 | -250 | -14 | 50,000 | |
| -10 | 62-60 | 1,500 | 1,750 | -200 | -11 | 10,000 | |
| Total | 256,000 | ||||||
Qty in MT
Base prices in INR/MT
Ex-Mines prices, including Royalty
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