State owned miner NMDC has decided to cut its lump prices by up to 11 percent and fines prices by 3
percent for November,something to cheer for steel manufacturers in India.
“Lumps availability were increasing, so we
thought that we should rationalise the prices,” the official said, adding
that after the revision, “average price for lumps with 65 percent iron
content will be about Rs 5,400 per tonnes.”
“Industry is going
through a rough patch and restricted supply of ore from Odisha has made it
worse. With NMDC cutting prices has certainly given some to cheer for steel
makers.” said an integrated steel manufacturer in Chattisgarh
Leave a Reply