Orissa Mining Corporation (OMC), state owned miner, received bids higher by INR 200-500/MT owing to improved demand from merchant exporters and domestic buyers
OMC, which had floated a tender for sales of 1,31,000 tonnes of iron ore fines on 7th November 2013 from its different mines located in Odisha, has received better response. Market sources highlight that prices bids have been high amid other private miners raising their prices in the month of October.
Market sources confirm that most of the bids were placed by traders and exporters. Iron ore prices in Chinese market have gone up in last one month’s time, followed by weak Rupee has supported high bids.
| Mines Name | Grade | Current Price (INR/MT) | Previous Prices (INR/MT) | Change | H-1 Bidder |
| OMC- Koira | 62-64% | 2,100 | 1,600 | +500 | Global Associates |
| 60-62% | 1,900 | 1,555 | +345 | Global Associates | |
| OMC Gandhamardhan | 60-62% | 2,276 | 2,060 | +216 | Fortune Associates |
| Less than 60% | 1,700 | 1,520 | +170 | Kashvi Power | |
| OMC-Barbil | 60-62% | 1,900 | 1,700 | +200 | Global Associates |
(Prices Incld Royalty on Ex-Mines basis)
Source: Market Traders,OMC
1 USD= INR 62.5
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