NMDC plans to finalize local prices of iron-ore this week
for the January-March period. It may cut prices of iron-ore fines marginally in
line with global rates said,
Finance Director S. Thiagarajan.
The company had raised the price of powdery iron-ore fines
by 17.4% to INR 3,380 a metric ton and of high-grade lumps by 11.2% to INR 4,270
a ton for the October-December quarter.
The state-run company supplies 90% of its output to local
steel mills. NMDC's output in the first eight months of the fiscal year through
March jumped by 27.5% from a year earlier to 18.1 million tons.
Thiagarajan also said NMDC is yet to sign annual export
contracts for iron ore with main buyers Japan and South Korea. It usually ships
out 3.0 million tons of the raw material.
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