Odisha Mining Corporation (OMC), a state-owned miner has scheduled its next e-auction on 7 Sept’17 for 292,000 MT iron ore fines. The material to be put under hammer is from Gandhamardan, Daitari and Koira mines.
The miner has kept iron ore fines base prices unchanged for the material offered from Gandhamardan and Koira mines. However base prices for material offered from Daitari mines has come down by INR 100/MT.
Base price comparison of OMC iron ore e-auctions
|
Mines |
Size | Fe (%) | Base Price | Base Price as on 05 Jul’17 |
Base Price | Change | Change | Quantity |
| (mm) | as on 05 Jun’17 | as on 07 Sept’17 | (in INR/MT) | (in %) |
(MT) |
|||
| Gandhamardan | -10 | 64-62 | 1,300 | 1,100 | 1,100 | = | = | 24,000 |
| -10 | 60-62 | 900 | 800 | 800 | = | = | 50,000 | |
| -10 | 54-58 | 500 | 500 | 500 | = | = | 35,000 | |
| -10 | Minus 60 (subgrade) |
600 | 550 | 550 | = | = | 33,000 | |
| Kurmitar (Koira) | -10 | 62-60 | 1,000 | 800 | 800 | = | = | 50,000 |
| Daitari | -10 | 64-62 | 1,600 | 1,600 | 1,500 | -100 | -6% | 100,000 |
Base prices in INR/MT on ex-mines basis; including royalty
Source: SteelMint Research
Miner’s previous e-auction conducted for iron ore fines on 05 Jul’17 for 249,000 MT fetched dull response with almost entire quantity remaining unsold. After this OMC had put 297,900 MT iron ore lump under hammer on 04 Aug’17. The e-auction received good response with almost 85% of the material getting sold.
Major Odisha based merchant miners have twice raised prices in Aug’17 owing to hike in sponge prices. Serajuddin mines price for Fe 63% fines is at INR 1,400/MT (ex-mines, including Royalty, DMF and NMET) and that of KJS Ahluwalia and Kaypee Enterprises is around INR 1,425/MT (ex-mines, including Royalty, DMF and NMET).
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