JSPL Bags 42,000 MT in Recent OMC Iron Ore E-auction

Odisha Mining Corporation (OMC) succeeded in drawing an encouraging response at its latest round of auctions of iron ore lumps on December 3, SteelMint learned from market participants.

OMC offered 345,000 tonnes of lumps sourced from its Gandhamardhan (15,000 MT Lumps and DR CLO 105,000 MT) Daitari (75,000 MT) and Khandadhar (150,000 MT) mines. Nearly 78 percent of the offered quantity was booked. The entire quantity of Koira and Daitari got booked.

Major buyers in OMC e-auction - JSPL was the largest buyer from Kurmitra mines about 42,000MT Lumps at INR 4,200/MT, Monnet Ispat 16,000 MT at INR 4,250/MT. Other buyers from OMC mines were Bhaskar steel 40,000 MT, Kalinga Sponge 15000 MT, Jai Sponge 15,000MT and Sunil Sponge 8,000 MT at INR 4,250/MT each.

OMC had cut base prices by INR 400/MT against the previous e-auction conducted on 03 Oct'18 for lumps.