India: Bids surge by 30% m-o-m in OMC's chrome ore auction
At OMC's chrome ore auction on 20 Jun'24, all 60,100 t were sold with premiums reaching 58-75% (INR 12,200-16,300) for high-grade material (52 to +54%). Bid prices rose up to 30% m-o-m across all grades. The higher premiums are due to the uptrend in ferro chrome prices and tight chrome ore availability.