The Odisha mining corporation (OMC) has fetched lower price bid
for different grades of friable Chrome ore against the last quarter in the
recently concluded e-auction, signalling a slowdown in demand in the
International ferrochrome market. However, as per the Odisha High Court
directive OMC has sold Chrome ore at the highest bid prices to both state and outside
state parties.
The 54 grade friable chrome ore has attracted a highest bid price
of Rs.11, 087 against the floor price of Rs. 10,287 per tonne. Similarly the 52-54
grade ore has attracted a price of Rs.10, 508 against the floor price of
Rs.9,908 per tonne. OMC had sold the two grades of Chrome ore at 12,635 and Rs.12550
in the last e-auction held on September last year.
Of the total 92,000 tonne
Chrome ore on offer, OMC has got response for 86,000 tonnes.However, the allocation has been pending.
The state based bidders have brought 70% of the auctioned chrome
and the rest have brought by the outside state parties.
* The major state based
buyers include- JSL, Rohit Ferrotech,VISA, Sambalpur based Shyam Metalics & Energy, Sukinda based Jabamayee Ferro Alloys Ltd. Outside state bidders include names like- Sham Ferro Alloys Ltd, Andhra Ferro Alloys Ltd, etc.
The honourable Odisha High Court in its interim verdict in
November last year had directed the Odisha Mining Commission to supply chrome
ore at maximum bid price to the user industries irrespective of the state and
outside state buyers. The court gave this interim ruling after a petition filed
by ex-MLA Balgopal Mishra against the differential pricing policy of Chrome ore
by OMC.
In the e-auction held on July last year the domestic (state based)
buyers got 54 grade chrome ore at price of Rs.11,470 per tonne, the outside
state buyers had to buy the same grade at Rs.12,570 per tonne.
However, if the case goes in favour of OMC the state parties can
get back the extra money they have paid for Chrome ore. The next round of
Chrome ore e-auction is scheduled to be held on February.
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