- Higher-grade ore draws stronger buyer interest
- Nearly 57% of material booked
At the OMC’s chrome ore auction today, 56,600 t of material got booked out of 100,000 t offered volume. The auction witnessed a mixed response, with buyers showing stronger interest in higher-grade ore while bidding remained subdued for lower grade material.
Compared with OMC’s August auction, final prices for some grades went up by 0.12-11% (INR 28-2,728/t), while for some, it came down by 2-14% (INR 416-2,759/t). And as compared to base price, premiums went up for all grades by 0.4-17% (INR 100-4,400/t).
Indian ferro chrome prices, on the other hand, have largely held firm m-o-m on the back of strong reductant costs and steady demand.
The September auction highlights a clear divergence in buyer preference across chrome ore grades.
With nearly half of the total offered quantity remaining unsold, the auction suggests that buyers are currently prioritising higher-grade material, while remaining cautious on lower-grade ores.
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