NMDC has reduced iron ore prices by Rs 200-300 per tonne for the February as weak global prices, which nosedived to five-and-a-half-year lows, are putting pressure on domestic rates.
The country’s largest producer of steelmaking raw material had rolled over the December price in January at Rs 4,200 per tonne for lumps and Rs 3,060 per tonne for fines. In December, the PSU had reduced the price of lumps by Rs 200 per tone and Rs 100 per tone for fines.
NMDC is a state-controlled mineral producer of the Government of India. It is fully owned by the Government of India and is under administrative control of the Ministry of Steel.
