India: Entire material sold at OMC's chrome ore auction
At OMC's chrome ore auction yesterday, entire 67,300 t were sold, with premiums going up to 24-55% (INR 4,900-11,700) over the base price for high-grade ore (52 to +54%). Majority of grades saw bids dropping up to INR 2,600 due to subdued ferro chrome and stainless steel market, however bid prices rose m-o-m for +54% and <40% grade material, likely due to limited material availability.