moneycontrol.com reported that Indian iron ore miner NMDC has reduced the price of iron ore lumps by 5.9% or INR 320 Per tonne for the current month mainly to align rates with the landed cost of the imported raw material.
At a Board meeting, NMDC, however, decided to keep the price of fines, which have less iron content, unchanged at INR 2,610 per tonne.
A source present in the meeting told PTI “Iron ore fine prices have been kept unchanged for the month of January but lump prices have been cut by 5.9%.”
Before the correction, the average price for NMDC's iron ore lumps, having 65% iron content were, hovering at around INR 5,400 per tonne.
Source:
http://www.steelguru.com/raw_material_news/NMDC_cuts_iron_ore_lump_prices_by_INR_320_per_tonne/297070.html
