Odisha Mining Corporation has scheduled its next iron ore fines e-auction on 30th Apr’20. The auction will be conducted for 429,000 MT iron ore fines.
The miner has reduced the base price of the ore by up to INR 500/MT against the last fines auction held on 20th Feb’20. The base price for material offered from Koira mines reduced by INR 500/MT. The Koira mines has also offered low grade fines (Fe 58%) at INR 750/MT. The price for iron ore from Daitari mines reduced by INR 200/MT and that from Gandhamardhan mines down by upto INR 200/MT.
SteelMint’s Odisha iron ore fines (Fe 63%) assessment stands at INR 1,800-2,000/MT (ex-mines, including Royalty, DMF & NMET). However, trades continue to remain on the lower side amid the lockdown over Coronavirus effect.
OMC iron ore e-auction details
| Mines | Size | Fe (%) | Base Price as on 20th Feb’20 | Bid Price as on 20 Feb’20 | Base Price as on 30th Apr’20 | Quantity offered |
| (mm) | (INR/MT) | (INR/MT) | (INR/MT) | (MT) | ||
| Gandhamardan | -10 | 60-62 | 1,150 | 1,150-1,200 | 1150 | 190,000 |
| -10 | 64-62 | 1,700 | – | 1500 | 9,000 | |
| Kurmitar (Koira) | -10 | 62-60 | 1,700 | 1,700 | 1,200 | 100,000 |
| Fines | 58% | 750 | 40,000 | |||
| Daitari | -10 | 64-62 | 2,200 | 2,450-2,500 | 2000 | 90,000 |
| Total | 429,000 | |||||
Base prices in INR/MT on ex-mines basis; including royalty
Source: SteelMint Research
Leave a Reply