Today’s OMC’s chrome ore auction saw a remarkable allotment of 57,700t sourced from South Kaliapani and Sukrangi mines, fetching premium prices ranging from INR 100-19,500/t above the floor price. Sources indicate a surge in record high premiums, ranging from 26-83% above the base price, primarily driven by robust demand and constrained supply, particularly for higher grade ores (Cr2O3: 48% to +54%). Compared to the Feb’24 auction, bid prices for 52-54+% grade ores have escalated by INR 6,439-7,371/t.
