State-run NMDC Ltd. on Wednesday, had cut its price of
iron-ore fines for the January-March period by 23% from the past quarter to Rs 2,590/MT
and that for lumps by 3% on to Rs 4,960/MT.
According to NMDC's Finance Director S. Thiagarajan “Even
after the on-quarter fall in prices, domestic prices in the fourth quarter are
around the same level as they were in the second quarter. Given by the
restrictions on iron-ore mining in two major producing states of Orissa and
Karnataka and strong demand from steelmakers, prices are unlikely to fall much
from the current levels”.
Speaking about the sales expectations, he added, sales for
this fiscal year through March to be nearly Rs 115 billion, up about 1.2% from
last year.
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