Odisha government-owned miner OMC has offered 12,140 MT of Chrome Ore to be sold through MSTC’s e-auction platform.
Out of the total quantity offered 9,450 MT is chrome concentrate and the rest is chrome ore fines. Chrome concentrate includes 8290 MT of lumps and 1160 MT chips.
The company is offering the material of Bangur mines, Orissa. As per the specification, Cr2O3 shall be within 32% to 54%.
For this round of e-auction, the base price for +54 grade Chrome ore is set at INR 26,029. Similarly, the base price for Chrome ore grade 50% and 46% are INR 22,726 and INR 20,442 respectively. Base Price for Chrome ore grade 42% and 38% are set at INR 17,635 and INR 14,955.
SteelMint assessed that quite a few Manganese Alloy producers have shifted their production to Ferro Chrome owing to high prices of Ferro Chrome. Thus, the demand for Chrome Ore in the OMC auctions has substantially risen. However, it is to be seen how aggressively the participants bid for Chrome Ore in the upcoming e-auction, as the Ferro Chrome prices have started drifting downwards.
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