OMC , state owned miner has recorded increasing iron ore production over last five years. According to the recent update on OMC website, the company has witnessed production at 7.92 MnT in FY’18, up 24% Y-o-Y as against 6.37 MnT in FY’17. OMC contributes around 8-10% of total state’s iron ore production.
Out of the total 7.92 MnT in FY’18, Daitari, Gandhamardan and Kurmitar (Koira) contributed 3 MnT, 2.52 MnT and 2.4 MnT respectively.
OMC has banned traders from participating in the recent iron ore e-auction which was held on 04 Apr’18. The tender document mentioned that –No traders shall be allowed to take part in the e-auction. However state based MoU signed steel plants, , steel sponge, state based crusher units, pellet, sinter, end user & pig iron plants inside & outside Odisha are allowed to participate.
Recent Auction Details:
• OMC’s last e-auction was held on 04 Apr’18 for 329,000 MT iron ore lumps. The complete quantity was booked with bids ranging from INR 50- 900/MT over the set base price. No trader was allowed to take part in the auction.
• Compared to the previous OMC iron ore lump e-auction conducted on 18 Jan’18, the bids fetched in this e-auction were lower for Koira mines by INR 600-750/MT. However bids for iron ore offered from other mines, were slightly up by INR 50-100/MT.
OMC E-auction Bid Prices for lumps:
| Mines | Size | Fe (%) | Bid prices as on 6th Dec’17 | Bid prices as on 18th Jan’18 | Bid Prices as on 04th Apr’18 |
| (mm) | (INR/MT) | (INR/MT) | (INR/MT) | ||
| Gandhamardan | 10-180 | 65 | 1900 | – | 2,500 |
| 10-40 | 62 | 2000-2050 | 3,400 | 3,450-3,500 | |
| Kurmitar (Koira) | 10-40 | 62 | 2,800-2,850 | 4,200-4,350 | 3,600 |
| Daitari | 10-40 | 62 | 2600 | 3,250 | 3,250-3,300 |
Bid prices in INR/MT
Source: SteelMint Research
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