NMDC might cut iron ore prices by 5-10%, anticipate sponge manufacturers

NMDC, 
India's single largest iron ore producer and exporter likely to revise it iron ore prices by 5-10 % expect sponge manufacturers in Chattisgarh.

“NMDC might cut prices by 5-10%, which will be announced in a day or two looking at international market and domestic sponge prices, said a big sponge manufacturer based in Raipur.”

If any roll back happens, ore prices will get cheaper by Rs 250-500/t, which will certainly give a big relief to the market.

Currently 6-40 mm iron ore of grade 64 Fe is offered at Rs 5635/t by NMDC (Ex Kirandul, Chattisgarh)