NMDC Board headed by C.S. Verma will meet on 7th
of November to discuss on iron ore prices for the month of November. Earlier in
October, NMDC had switched to monthly pricing policy from the quarterly policy
in order to offset the volatility in steel prices.
According to industry experts, “Prices are high and this has forced companies
like JSW and ESAAR to import iron ore from other countries.
Last month, NMDC had cut prices by 2-11% which was below the market
expectation. However, looking at the current iron ore crisis at Odisha, chances
are less for NMDC to cut prices further.
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