State-owned chrome ore miner Odisha Mining Corporation (OMC) has reduced the base price for various grades of chrome ore by 11%* for its upcoming auction for 136,000 t to be held on 26 May’21. The decrease in base price for the auction was widely anticipated by market participants as it directly resulted from falling ferro chrome prices until last week. However, as SteelMint has reported, ferro chrome prices have started edging up again amidst supply shortage in the domestic market.
*Correction: The percentage was wrongly mentioned as 8%, which has been corrected.
Leave a Reply