By Our Correspondent
BHUBANESWAR: State owned leading merchant chrome ore miner, Odisha Mining Corporation (OMC), will conduct an auction for 35,100 t of chrome ore (42-54% Cr2O3) on October 16, as per latest information.
Out of the total allotted quantity, 30,700 t is offered from the South Kaliapani and 4,400 t from its Sukrangi mines. Floor price will be published shortly by the company’s management.
Meanwhile, Sponge iron prices fall marginally in Odisha. For sponge C-DRI (FeM 80%, mix material) stands at INR 36,400/t ($483/t) exw-Rourkela, down by INR 50/t on 13 October. Around 1,500 t of sponge C-DRI (FeM 80%) deals were confirmed at INR 36,300/t exw. According to sources, the market was mostly inactive on the occasion of Durga Puja. However, correction in domestic billet prices by INR 500/t, d-o-d resulted in a drop in sponge iron prices.
