India’s largest iron ore producer NMDC has slashed the per-tonne prices of lump ore and fines by ₹500 each.
A reflection of steel demand, the latest change is in continuation of a downward revision in the ore prices by the mining major since April. Effective July 12, the new price of lump ore is ₹3,900 for a tonne, while that of fines is ₹2,810 for the same quantity.
Compared with the April price of ₹6,100 for lump ore and ₹5,160 for the fines, the new rates are ₹2,200 and ₹2,350 lower, respectively. The company had previously changed the price on June 5, to ₹4,400 for lump ore and ₹3,310 for fines.