India’s leading merchant chrome ore miner OMC had scheduled an auction for 35,100 t of chrome ore on 25 Jun’21. Out of the total quantity on offer, only 1,800 t got booked. OMC sources believe that the tepid response was due to Durgapur-based producers shifting from chrome to manganese alloys, while other smaller producers in the market have found alternative sources of lower-cost ore. However, smelters insist that the base prices of chrome ore for the auction set by OMC were far too high for buyers. As per SteelMint estimates, more than 20% of domestic ferro chrome production is out of the market at present.
Leave a Reply