Odisha Mining Corporation (OMC), a state-owned miner conducted e-auction yesterday (6 Dec’17) for 430,000 MT iron ore. Out of the offered quantity 400,000 MT was lump and rest 30,000 MT was fines. The material that was put under hammer was from Gandhamardan, Daitari and Koira mines.
The miner kept iron ore base prices similar to previous auction, for the material offered from all its mines.
According to market sources report to SteelMint, the OMC auction received a considerably good response with about 90% of material receiving bids, i.e. 385,000 MT of material was booked against the total offered quantity of 430,000 MT. Out of the total material offered, the complete quantity of 30,000 MT of fines received bids while 89% of the lump offered attracted interest of the bidders.
For majority of the lots booked, bids prices remained higher up to INR 200/MT while for few lots bid prices remained close to base price.
As per market participants report, major iron ore bidders for OMC’s Koira mines were – KAI, Monnet, Shyam Metaliks.
Base and Bid price of OMC iron ore e-auction conducted on 06 Dec’17
|
Mines |
Size | Fe (%) | Base Price |
Bid Prices | Offered Quantity | Bid Quantity |
| (mm) | (INR/MT) | (INR/MT) | (MT) |
(MT) |
||
| Gandhamardan | 10-180 | 65 | 1,700 | 1,900 | 5,000 | 5,000 |
| 10-40 | 62 | 2,000 | 2,000-2,050 | 145,000 | 132,000 | |
| Fines | 60-62 | 800 | 900 | 30,000 | 30,000 | |
| Kurmitar (Koira) | 10-40 | 62 | 2,650 | 2,800-2,850 | 150,000 | 150,000 |
| Daitari | 10-40 | 62 | 2,600 | 2,600 | 100,000 | 68,000 |
| Total | 430,000 | 385,000 | ||||
Base prices in INR/MT on ex-mines basis; including royalty
Source: SteelMint Research
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