National Mineral Development Corporation (NMDC), the state owned and largest Iron ore miner in India, is to take a decision about its July Iron ore prices in a Board meeting to be held on the 3rd (tomorrow).
NMDC's Iron ore lumps prices are under pressure currently, as miners based in the state of Odisha lowered offers up to Rs 500/MT in the last couple of weeks.
Buyers are preferring to procure the raw material from Odisha, as the landed cost difference to Chhattisgarh between lumps being purchased from NMDC and Odisha is standing at around Rs 1,000/MT.
In June, NMDC's Iron ore production and sales came down by about 22.5% M-o-M to 2 Million Tons (approx).
Due to issues with its loading equipment and heavy rains in the Bailadila sector in Chhattisgarh, both Iron ore dispatches and production were hampered last month.
For more details, contact
Seema Goenka
(seema@steelmint.com)
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