Friday, 01 October,
SteelMint Exclusive
Government owned NMDC and one of the largest private players – Rungta & Essel Mines changed its Iron ore prices with effect from 1 October, 2010.
While, NMDC (following the trend set by international biggies) reduced its ex-mines price by 6% from last levels; Rungta Mines and Essel Mining have increased its prices for domestic Iron ore by Rs 450/MT reiterating the fact that in present day, mines in Orissa have limited stock and it may take more than 2 weeks when smooth flow of Iron ore begins from Orissa.
“NMDC’s ore is of a very good quality and at renewed prices, they are gonna be swamped with orders as movement of Iron ore from Orissa is still weak apart from higher prices”, said a Sponge manufacturer based in Raipur.
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