OMC Chrome ore auction receives satisfactory response as more than 90% of the auctioned commodity was bid for.
State-owned, Odisha Mining Corporation (OMC) recently conducted an e-auction for sale of 37,000 MT friable Chrome Ore on 3rd Aug’17. The commodity put under the hammer was from South Kalaipani mines, Sukrangi mines and Paradip Port.
As per the sources, out of 37,000 MT only 2,400 MT 42-44% grade Chrome ore from Sukrangi Mines received no bid.
The bid received were above the base price at INR 9,175/MT for +54% grade, INR 8,850/MT for 52-54% grade, INR 7,700/MT for 48-50% grade, INR 6,925/MT for 46-48% grade and 6,150/MT for 44-46% grade.
Previous OMC Chrome Ore Auction on 3rd July’17
OMC Chrome Ore Auction, which was held in June, had received weak response on account of weak Ferro Chrome market. In the previous round of auction, only 36% of auctioned Chrome Ore was bid for.
| Mines | Grade | Base Price as on 3rd Jul’17 | Base Price as on 3rd Aug’17 | Change (INR/MT) | Offered Quantity (MT) | Alloted Quantity (MT) |
| South Kalaipani | 54+ | 9375 | 7425 | -1950 | 4400 | 4400 |
| 52-54 | 9020 | 7150 | -1870 | 5800 | 5800 | |
| 48-50 | 8333 | 6600 | -1733 | 6600 | 6600 | |
| 46-48 | 7986 | 6325 | -1661 | 6600 | 6600 | |
| 44-46 | 7639 | 6050 | -1589 | 2900 | 2900 | |
| Sukrangi Mines | 52-54 | 9028 | 7150 | -1878 | 700 | 700 |
| 48-50 | 8333 | 6600 | -1733 | 1000 | 1000 | |
| 46-48 | 7986 | 6325 | -1661 | 400 | 400 | |
| 44-46 | 7639 | 6050 | -1589 | 1700 | 1700 | |
| 42-44 | 7292 | 5775 | -1517 | 2400 | 0 | |
| Paradip Port | 46-48 | 0 | 6350 | 6350 | 4500 | 4500 |
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