Chattisgarh Sponge manufacturers cheer as NDMC rolls back 5% on lumps prices

Saturday, May 07,

Sponge iron manufacturers based in Chhattisgarh have something to cheer after NMDC.*, the state mining company decides to roll back the provisional hike on iron ore lumps prices.

Previously, a provisional hike of 10% was imposed on 15th of April. But looking at market conditions, NMDC has decided to roll back 5% now and might consider another roll back of 5% in the next quarter, said an official.

After the roll back, Iron ore lumps (10-150 mm) at Bacheli will cost around Rs 3,800/MT (Royalty and taxes extra) and 10-40mm at Kurundul will cost around Rs 4,550/MT.