NMDC, India's biggest mining company increased its Iron ore lumps prices by Rs 400-500 for its 3rd quarter on rising steel prices.
Market was not expecting this move as offers were already high said a sponge manufacturer based in Raipur.
Sponge prices are hovering at 5-Months high and might hold firm after the hike , he added.
Current prices
6-40mm= Rs 4270
10-150mm= Rs 5120
Basic prices, Royalty + Bonus + Taxes extra
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