India: Buyers book entire quantity of chrome ore in OMC's auction, bids fall
Today at OMC's chrome ore auction, entire material of 39,500 t from South Kaliapani and Sukrangi mines was sold, with high-grade material (52-54%). Bids fetched a premium of 1-13% (INR 200-2,800/t) above the base price. Interestingly, the miner decreased the base price by around INR 488-1,389/t (5%) m-o-m due to fall in ferro chrome and stainless steel prices.