India: NMDC lowers iron ore prices by up to INR 400/t ($5/t) for Oct’21

PSU miner NMDC has cut iron ore prices by INR 200-400/t ($3-5/t) for Oct’21, SteelMint learnt from sources. The revised offers are:

• Baila lump (6-40mm, Fe 65.5%) – INR 5,950/t (down INR 200/t, m-o-m).
• Baila fines (Fe 64%) – INR 4,760/t (down INR 400/t, m-o-m).
• DR CLO (10-40mm, Fe 67%) – INR 6,910/t (down INR 230/t on month).
• Prices are on FOR basis, excluding royalty and other statutory taxes.