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.
Leave a Reply
You must be logged in to post a comment.