State-run miner NMDC has left iron ore price untouched for the month of May and will continue to sell iron ore lumps in the range between Rs 4500-Rs 4700 per tonne, while fines will be sold at Rs 2,610 per tonne. The company has either reduced the iron ore prices on a monthly basis or kept them unchanged, since October 2012, on account of subdued demand. For the month of April, it reduced the prices of higher grade iron ore (lumps) by about 7%.
Company’s sales of iron ore had declined by 17% to 5.3 million tonnes (MT) in the third quarter of 2012-13, while the production plunged by 25% at 5.4 MT during the period.
