National Mineral Development Corporation (NMDC), a state-run iron ore miner, has kept prices for both lump and fines unchanged for month of March with global rates falling to its lowest in the last eight months. The company had last month hiked price of fines, inferior variety of the steel-making raw material, by Rs 100 per tonne to Rs 2,910 a tonne. However, it had not changed the lump price and kept it at Rs 4,500 per tonne.
The country’s largest iron ore producer reviews prices of the raw material for steel-making every month, mainly considering two factors - the domestic demand and international prices. While domestic demand is in tact, international price has plummeted to its lowest in eight months to $117-118 per tonne, primarily on subdued Chinese demand.
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.
| Company Name | CMP |
|---|---|
| Coal India | 438.70 |
| NMDC | 89.78 |
| GMDC | 733.40 |
| Sandur Manganese | 218.35 |
| MOIL | 327.60 |
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