India: NMDC cuts iron ore prices by up to INR 500/t ($7/t)

NMDC has cut iron ore prices further by INR 300-500/t today. Drop in prices in Odisha resulted in the lowering of offers.

• DR CLO (10-40mm, Fe 67%) – INR 5,690/t (-350/t)
• Baila lump (6-40mm, Fe 65.5%) – INR 4,900/t (-300/t)
• Baila fines (Fe 64%) – INR 4,060/t (-500/t)
• Prices are on FOR basis, excluding royalty and taxes.