NMDC, India's largest iron ore producer cut Iron ore lumps prices by 5.8% to 5.9%. However, the fines prices have been kept unchanged, said officials from NMDC.
NMDC had shifted to monthly pricing mechanism from last 3- months and had reduced its prices in the month of October and November but had kept prices unchanged in December.
” Iron ore prices Globally have firmed up in last few weeks. So, NMDC's price cut for January comes against all the market expectations for a upward revision in prices. The price cut in lumps of about 6% accounts to a cut of Rs 320/MT”, said market sources.
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