NMDC, India's largest producer and exporter of iron ore, which sells iron ore lumps in domestic market on quarterly pricing basis, is yet to decide on July-Sep quarter prices.
The NMDC board is to meet soon to decide on July-September iron ore prices. “We are yet to decide on the new prices. But we have a well worked pricing mechanism approved by the board, that takes into account both internal and external developments ,” said NMDC's acting chairman , CS Verma, who also heads the Steel Authority of India (SAIL).
Sponge manufacturers based in Chattisgarh ruled out any hike in prices, as industry is already going through a bad phase and if prices are raised than most of sourcing will be done from Odisha.
Where as July- Sep prices for Orissa Mining Corp (state miner in Odisha) has gone down by 5-7% on sluggish demand and falling sponge prices (which had corrected over Rs 1,000/t in last one month).
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