Last Updated: 5/21/2025 11:39:00 PM
Indian stated-run National Mineral Development Corporation (NMDC) has cut its lump ore prices by 2.2% for March while it remained fine ore prices unchanged at INR2,610/ton. Industry sources said that the price cut on lump ore will help to release pressure suffered by the local steelmakers. It’s known that the surged iron ore prices squeezed the steelmakers’ profits previously. In January, NMDC reduced its lump ore prices 5.9% but hiked the prices again by INR200/ton in February. Meanwhile, it’s predicted that NMDC’s iron ore output would fall to 26 million tons in the current fiscal year ended on March 31st from 27 million tons in a year ago.
