At OMC’s chrome ore auction today, 50,500 t were booked out of the 76,000 t offered. Bids for Cr2O3 >48% grades (barring COBO, J.K Road material) fell sharply by 21-32% (INR 5,658-11,027/t) m-o-m. Other grades saw a slight gain of 1-2% (INR 51-432/t). Weak demand from the stagnant stainless steel and ferro chrome markets led to subdued auction participation.
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