NMDC, India's largest iron ore producer cut Iron ore lumps
prices by 5.8% to 5.9%. However, the fines prices have been kept unchanged,
said officials from NMDC.
NMDC had shifted to monthly pricing mechanism from
last 3- months and had reduced its prices in the month of October and November
but had kept prices unchanged in December.
“Iron ore prices globally have firmed up in last few
weeks. So, NMDC's price cut for January comes against all the market
expectations for an upward revision in prices. The price cut in lumps of about
6% accounts to a cut of Rs 320/MT”, said market sources.
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