India: OMC raises base prices for upcoming chrome ore auction, reduces offered quantity

OMC will auction 32,400 t of chrome ore on 20 Sep'24, with the offered quantity declining by 22,400 t m-o-m. However, base prices have risen 7-13% (INR 1,188-2,468) for most grades and 72% (INR 4,715) for grades below 40%. The drop in quantity is likely due to the monsoon-led reduction in output and lower Chinese ferro chrome tender prices.