The Odisha Mining Corporation Ltd (OMC), a Government of Odisha Undertaking State PSU, which had floated tender for sale of 1,58,100 tons of Iron ore fines of various grades produced at different mines of OMC Ltd on July 5th 2013 have fetched bids lower than previous quarter.
According to sources, bids have gone down by 10-18% at some mines owing to weak demand and also no participation by sponge manufacturers, as local authorities have abandoned granting permission for Iron ore of size 0-10 mm (fines) to local sponge iron units.
However at some mines, prices were kept unchanged as better realization in exports received interest from exporters.
Prices for Fe 62% Iron fines have received bids at Rs 1500-1700/t and Fe 63% at Rs 1,600-2,000/t (ex mines basis, including royalty).
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