With falling steel prices and low production of sponge iron, NMDC (largest Indian iron ore miner) might consider cut on iron ore prices for domestic steel mills.
“There is anticipation that July – Sep quarter prices might go down by Rs 300-500/t on disparity between sponge and iron ore prices, also international markets are down. Currently 6-20mm of 65% Fe is offered at Rs 5,540/t (Basic prices, royalty and taxes extra) ex Kirandul mines of NMDC located in Chattisgarh.” said president of Chattishgarh sponge manufacturer association.
Also improved supply and comparatively lower prices from Odisha miners, NMDC might consider price cut.
Leave a Reply