Odisha Mining Corporation (OMC) – state owned miner has scheduled an e-auction for 245,000 MT iron ore which is to be conducted on 21 Jun’16. The material which will be put under hammer belongs to its Gandhamardhan mines.
The offered quantity comprises of 110,000 MT CLO and 135,000 MT fines.
Despite receiving poor response in past few e-auctions, the miner has kept base prices unchanged for the upcoming e-auction.
Base price comparison of OMC iron ore e-auctions
|
Mines |
Size (mm) | Fe (%) | Base Price for 21 Jun’16 e-auction |
Base Price for 1 Jun’16 e-auction |
Change |
Offered Quantity |
| Gandhamardhan | 10-40 | 62 | 1,750 | 1,750 | = | 65,000 |
| 5-18 | 65 | 2,200 | 2,200 | = | 10,000 | |
| 10-180 | 65 | 1,500 | 1,500 | = | 35,000 | |
| -10 | 62-60 | 800 | 800 | = | 135,000 | |
| Total | 245,000 |
Base prices in INR/MT on ex-mines basis; including of royalty
Source: SteelMint Research
OMC’s previous iron ore e-auction fetched dull response
Miner’s previous iron ore e-auction conducted on 1 Jun’16 received weak response. The miner had all together put 815,000 MT iron ore in the e-auction. Out of the total offered material, only 29% (around 237,000 MT) was sold.
Out of the total offered material 260,000 MT ore belonged to Gandhamardhan mines. As per the received information, all the lots offered from Gandhamrdhan mines remained unsold.
Leave a Reply