India's largest iron ore producer and exporter likely to cut October -December quarter prices looking at weak domestic demand and falling iron ore prices in international markets said a source who was present in meeting between NMDC and Chattisgarh state government held on 24th Sep.Though there is no official confirmation from the company.
“Sponge manufacturers have requested to cut prices by around 25% but we can see a cut of 15-20% in coming quarter.We are not making any official confirmation, there are other factors which have to be looked upon.” said a senior official, who requested not to be named.
In a telephonic conversation with CG sponge manufacturer association president Mr Anil Nachrani, he confirmed that there are talks of price cut in next quarter. Also association has proposed to increase supply quota to steel mills based in Chattisgarh.
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