Metal & Mineral Trading Corporation (MMTC), one of the major global players in the minerals trade and single largest exporter of minerals from India, had invited interested overseas buyers for purchase of 15,000 MT Friable chrome ore (50/48% Cr) of Indian origin through its export tender. However, the company has decided to cancel the tender as it received very low bids against a base price of USD 180/MT FOB Paradip Port.
The material was offered by Misrilall Mines Pvt. Ltd. (MMPL), Paradip.
MMTC has not yet decided on issuing a fresh tender for the said material, as the Chinese buyers are out of the market with the ongoing New Year holidays. A decision on this is expected to be made after potential buyers return to the market, as it will provide a better clarity on achievable prices.
Last chrome ore export deal was finalized with Tata Steel Asia (Hong Kong)
Earlier, in the month of Nov’15, MMTC issued an export tender for 30,000 MT chrome concentrate (50/48% Cr) of Indian origin. The material had been offered by Tata Steel. The tender expired on 10 Nov’15.
As per sources, the tender had been awarded to Tata Steel Asia (Hong Kong) Limited at USD 210/MT FOB Gangavaram Port / Vizag Port (Andhra Pradesh).
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