Iron ore producer NMDC has reduced the price of Lump Ore by ₹300 a tonne. It also lowered the price of Fines by ₹500.
The new prices, which came into force on December 28, are ₹4,900 per tonne for Lump Ore and ₹4,060 for Fines. The public sector mining major had previously changed the prices effective November 30.
Iron ore prices have been on the decline for about six months now. NMDC last increased them in June to ₹7,650 for Lumps and ₹6,560 for Fines. However, beginning July 10, when they were slashed to ₹7,450 and ₹6,360 respectively, the prices have been consistently reduced, which is a reflection of the demand.
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