The last e-auction fetched bids higher by 12.6%, but some of the sold material is still not dispatched. As such, though there is a likelihood, there is also a reluctance on conducting another auction.
Odisha Mining Corporation (OMC) is likely to conduct an e-auction of chrome ore on 17 June’15. The company had last conducted auction of 25,200 MT chrome ore on 11 May’15. This auction drove a prices up to 13% in some grades.
The company has scheduled a chrome ore e-auction tentatively on 17 June’15. The quantity to be auctioned is not yet decided. Some of the material from the last auction still remains to be dispatched. As such, the company is reluctant and may conduct auction next week if the leftover material is dispatched before the auction date.
It should be noted that in the e-auction conducted on 11 May’15, total chrome ore offered was 25,200 MT. Out of the total quantity, 24,000 MT was from South Kaliapani mines of OMC.
Chrome ore prices in the auction conducted on 11 May’15 were incremented for most grades from those in the auction conducted on 6 Apr’15
- Prices of 48-50 grade had increased by 12.6% to INR 12,757 /MT.
- Prices of 46-48 grade had fetched highest bid of INR 13,155/MT against the floor price of INR 9,255/MT.
- Prices of +54 grade were increased by 11.93% to INR 14,013/MT from INR 12,519/MT.
- Prices of 52-54 grade remained almost flat at INR 12,549/MT, which was INR 12,367/MT in auction conducted on 6 Apr’15.
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