India: Chrome Ore Auction Receives Positive Response
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State Owned, Odisha Mining Corporation (OMC) conducted the e-auction on 06 Mar'19. Despite low demand in the market, in the March round of Chrome Ore auction, OMC received a positive response, as the entire quantity of friable chrome ore received bids at an average of about 5% above the base price.
OMC offered a total of 34,200MT Friable Chrome Ore for auction, of which 33,300MT Friable Chrome Ore is from South Kalapani Chromite Mines and 900 MT from Sukrangi Chromite Mines.
The bid received for the Friable Ores are in the range of INR 12,316 - 12,516/MT for +54% grade, INR 11,562-11,662/MT for 52-54% grade, INR 9,935-10,035/MT for 48-50% grade, INR 8,477-8,577/MT for 46-48% grade, and INR 7,450-7,650/MT for 44-46% grade.
| Mines | Grade (Cr2O3) | Base Price (INR/MT) | Quantity offered for e-auction (MT) | Bid Quantity (MT) | Bid Price in e-auction (INR/MT) | Weighted avg Price (INR/WMT) |
| South Kaliapani | 54% | 11616 | 10700 | 10700 | 12516/12416/12316 | 12350 |
| 52-54 | 10662 | 9500 | 9500 | 11662/11562 | 11639 | |
| 48-50 | 9835 | 5500 | 5500 | 10035/9935 | 10017 | |
| 46-48 | 8477 | 4000 | 4000 | 8577/8477 | 8562 | |
| 44-46 | 7450 | 3600 | 3600 | 7650/7450 | 7478 | |
| Sukrangi Chromite Mines | 42-44 | 7422 | 900 | 900 | 7422 | 7422 |
| TOTAL | 34200 | 34200 | ||||
| Bangur Lumps | 42-44 | 8366 | 20 | 20 | 8366 | 8366 |
| 38-40 | 7779 | 100 | 100 | 7779 | 7779 | |
| 34-36 | 6955 | 60 | 60 | 6955 | 6955 | |
| 32-34 | 6564 | 700 | 700 | 6564 | 6564 | |
| Bangur Chips | 34-36 | 6992 | 120 | 120 | 6992 | 6992 |
| 32-34 | 6599 | 420 | 420 | 6599 | 6599 | |
| TOTAL | 1420 | 1420 | ||||
Source: SteelMint
