Chrome Ore Prices Increased by OMC: India‘s Odisha Mining Corporation (OMC) has raised the base prices of chrome ore in its September auction due to rising ferro-chrome prices. The base price for 48-49.99% grade ore from the South Kaliapani mines is now set at 19,743 rupees per tonne ($236.5/t), an increase from August’s 18,386 rupees. This price hike reflects the growing demand for higher returns from exports amid the upward trend in ferro-chrome prices.
No Offer for Higher Grade Ore: OMC will not offer its 50-51.99% grade ore from the Sukrangi mines this month, which had a base price of about 20,173 rupees per tonne in August.
Reduced Quantity Available: The state’s trading firm, MSTC, will sell 22,400 tonnes of 42-54% grade friable chrome ore from both the South Kaliapani and Sukrangi mines on September 20. This is a decrease from the 24,800 tonnes offered in August, likely due to lower output attributed to the monsoon season.
Additional Offerings: MSTC will also provide around 1,300 tonnes of lumps, chips, and fines (30-36% grade) from the Bangur mines. Despite these price increases, India’s domestic ferro-chrome prices for 60% grade have remained stable at 106,000-108,000 rupees per tonne ex-works as of September 19.
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