India: Bids decline at OMC's chrome ore auction
At OMC's chrome ore auction today, 88,400 t were sold out of the 93,800 t offered. Bids fell by 2-21% (INR 461-7,635/t) across various grades, except for the below 40% grades, for which bids remained unchanged m-o-m. The decline is largely attributed to lower ferro chrome prices amid weak end-user demand, further pressured by the recent drop in bids at Vedanta-FACOR's ferro chrome auction.