Odisha Mining Corporation (OMC), a state-owned miner has scheduled its next e-auction on 28 Nov’16 for 960,000 MT iron ore. The material to be put under hammer is from Gandhamardan, Daitari and Koira mines.
The offered quantity comprises of 525,000 MT lump and 435,000 MT fines.
Base prices of fines have shown fluctuation in the range of INR 50-150/MT. Fines (Fe 58-54%) base prices have come down by INR 150/MT. While Koira fines base prices have increased by INR 50/MT.
Lump prices up by INR 100-450/MT – Except for lump (10-180 mm, Fe 65%) offered by Gandhamardhan mines, all lots of lump have witnessed increase in base prices. Base prices of 10-40 mm (Fe 62%) lump offered from Koira and Daitari mines have moved up by INR 450/MT and INR 300/MT respectively.
Base price comparison of OMC iron ore e-auctions
|
Mines |
Size (mm) | Fe (%) | Base Price | Base Price as on 28 Nov’16 | Change | Quantity (MT) |
|
on 28 Sept’16 |
||||||
| Gandhamardan | 10-180 | 65 | 1,400 | 1400 | = | 35,000 |
| 10-40 | 62 | 1,700 | 1800 | +100 | 70,000 | |
| -10 | 58-54 | 650 | 500 | -150 | 100,000 | |
| -10 | 62-60 | 800 | 800 | = | 135,000 | |
| Kurmitar (Koira) | 10-40 | 62 | 1,750 | 2200 | +450 | 300,000 |
| -10 | 62-60 | 700 | 750 | +50 | 100,000 | |
| Daitari | 10-40 | 62 | 1,700 | 2000 | +300 | 120,000 |
| -10 | 64-62 | 1,300 | 1300 | = | 100,000 | |
| Total | 960,000 | |||||
Base prices in INR/MT on ex-mines basis; including royalty
Source: SteelMint Research
OMC’s previous e-auction conducted for 905,000 MT iron ore on 28 Sept’16 fetched overwhelming response from the bidders and more than 90% of the offered quantity was booked.
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