Odisha Mining Corporation (OMC) will be conducting two e-auctions of 25,700 MT Friable Chrome ore and 900 MT Chrome concentrate on 06 Apr’15; kept base price unchanged.
Two online auctions will be conducted by MSTC on behalf of Odisha Mining Corporation (OMC) for 25,700 MT Friable Chrome ore and 900 MT Chrome concentrate on 06 Apr’15. Material is available in different lots at its mines and COB (Chrome ore benification) plant, and is open for both Odisha based and other-state based buyers.
Bidders have to quote for basic price in INR per MT, which will be inclusive of royalty and exclusive of Cess and statutory duties & levies. Also, the minimum quantity to be quoted is 100 MT and in multiples of 100 MT. Bids will open on 06 Apr’15 at 14.00 hrs and last date for bid submission is 04 Apr’15 at 16.00 hrs.
Talking about the prices, the company has kept their base price unchanged for the upcoming auction. Although in the last e-auction conducted on 02 Mar’15, prices of Chrome ore had declined to maximum of 34% (for 48-50 & 46-48 Cr2O3).
Base price comparision of Chrome ore & Chrome concentrate E-auctions
|
Details of Chrome Ore (Friable) |
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| Region | Lot No. | Grade (Cr2O3%) |
Current Base price (06 Apr’15) |
Previous Base Price (02 Mar’15) | % Change | Current Qty Offered (MT) |
|
South Kaliapani |
A | +54 | 12,219 | 12,241 | 0.1 | 7,500 |
| B | 52 | 11,767 | 11,788 | 0.1 | 9,300 | |
| C | 50 | 9,819 | 9,836 | 0.1 | 200 | |
| D | 48 | 9,426 | 9,443 | 0.1 | 3,600 | |
| E | 46 | 9,033 | 9,050 | 0.1 | 3,000 | |
| F | 44 | 8,641 | Not offered | – | 100 | |
| G | 42 | 8,248 | 8,263 | 0.1 | 300 | |
|
Sukrangi |
H | 48 | 9,426 | 9,443 | 0.1 | 500 |
| I | 46 | 9,033 | 9,050 | 0.1 | 300 | |
| J | 44 | 8,641 | Not offered | – | 400 | |
| K | 42 | 8,248 | Not offered | – | 500 | |
| Total |
25,700 |
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|
Details of Chrome Concentrate |
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|
COB Plant |
I | 52 | 11,729 | 11,750 | 0.1 | 200 |
| II | 50 | 9,786 | 9,804 | 0.1 | 300 | |
| III | 48 | 9,395 | Not offered | – | 200 | |
| IV | 44 | 8,612 | Not offered | – | 100 | |
| V | 40 | 7,829 | 7,843 | 0.1 | 100 | |
| Total |
900 |
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Source: SteelMint Research
21,600 MT Chrome ore & 1,000 MT Chrome concentrate auctioned on 02 Mar’15
OMC had last auctioned about 21,600 MT Chrome ore and 1,000 MT Chrome concentrate on 02 Mar’15. It has been assessed that the prices of Chrome ore had declined as compared to the previous auction conducted on 28 Jan’15.
H1 prices for +54% Friable Chrome ore was declined by 15% from INR 14,679/MT (price on auction 28 Jan’15) to INR 12,541/MT. Similarly, there was a decline of 6%, 10%, 19% seen in 50-52, 42-44 (from South Kaliapani Chromite mine) and 46-48 (from Sukrangi Chromite mines) grade Friable Chrome ore respectively. On the other hand, for Friable Chrome ore containing grade 48-50, 46-48% Cr2O3, the prices declined greatly by 34% as compared to prices in the auction conducted in the month of January.
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