Indian chrome ore miner, OMC postponed their chrome ore auctions from 13th April to 23rd April. They announced a reduction in the base prices by around 25% from the previous month. This reduction is attributed to the falling ferrochrome prices and the pessimistic outlook due to limited Chinese demand. It is expected that the cost of production will be down by around INR 14,000/t in line with the reduced base prices.
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