Odisha Mining Corporation (OMC) has scheduled its next iron ore lump e-auction on 05 Jun’18. Base prices of Gandhamardhan & Daitari ore remain close to bid prices of previous e-auction.
Odisha Mining Corporation (OMC), a state-owned miner is to conduct next e-auction for 280,000 MT iron ore CLO and Lump on 05 Jun’18. The material put under hammer is from Gandhamardan, Daitari and Koira mines. No traders shall be allowed to take part in the e-auction.
Out of the total quantity, 265,000 MT is DR CLO and remaining 15,000 MT is lump ore. The entire lump ore material offered is from Gandhamardan mines and the base price for the ore is at INR 2500/MT close to bid price of previous e-auction held on 04 Apr’18. However if base prices are compared, prices have increased by INR 300/MT.
Lump offered from Koira mines is base priced at INR 3,600/MT, similar to bid price of previous e-auction. However lump base prices from Daitari mines have increased to INR 3,400/MT against bids which were in the range of INR 3250-3300/MT.
Base price comparison of OMC iron ore e-auctions-
| Mines | Size (mm) | Fe (%) | Base Price as on 04 Apr’18 | Bid price as on 04 Apr’18 | Base Price as on 05 Jun’18 | Quantity (MT) |
| Gandhamardan | 10-40 | 62% | 2,600 | 3,450-3,500 | 3,500 | 100,000 |
| 10-180 | 65% | 2,200 | 2,500 | 2,500 | 15,000 | |
| Kurmitar (Koira) | 10-40 | 62% | 3,200 | 3,600 | 3,600 | 65,000 |
| Daitari | 10-40 | 62% | 3,200 | 3,250-3,300 | 3,400 | 100,000 |
| Total | 280,000 | |||||
Base prices in INR/MT on ex-mines basis; including royalty
Source: SteelMint Research
OMC’s last e-auction was held on 09 May’18 for 370,000 MT iron ore fines. Out of the total quantity, 88% of material (325,000 MT) received bids. Compared to its previous OMC iron ore fines e-auction conducted on 07 Mar’18, the bids fetched in this e-auction were lower for Gandhmardan mines by around INR 40/MT. However, the bids for iron ore offered from Daitari, stood slightly up by around INR 50/MT.
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