NMDC heard to have cut iron ore prices by 2-10% for Oct-Dec quarter

NMDC, India's largest producer of iron ore heard to have cut its iron ore prices by 2-10% for Oct- Dec quarter.

Sources tell SteelMint that iron ore lumps have been reduced by 2% and fines have been reduced by 10-11%, there is no official announcement on the prices and likely to be declared tomorrow.

Last quarter (July – September) prices are

6-40mm (Fe 65%) = Rs 6,190/t

10-150mm (Fe 65%) = Rs 5,190/t

Fines (Fe 65%) = Rs 3,030/t

Prices Ex-mines at Baladila (Chattisgarh), Royalty and Taxes as applicable.

Steel manufacturers were anticipating a minimum reduction of 10-12% for this quarter. NMDC officials were unavailable for any comment.