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Press Trust of India reported that state owned miner NMDC may revise iron ore rates for February because of firming up in international markets.

NMDC chairman Mr CS Verma told PTI here when asked whether the company would raise prices in view of rising international rates that “Our Board will meet in the first week of February.”

Declining to elaborate, he said it is a price sensitive issue and NMDC was closely watching the situation.

He said the international rates have significantly gone up from USD 90 a tonne in last September to USD 150 per tonne now but added that international pricing and domestic pricing are totally different things.

NMDC had slashed the price of iron ore lumps by 5.9% or INR 320 a tonne for January, but kept the price of fines unchanged at INR 2,610 per tonne. Following the correction, average price for NMDC's iron ore lumps, having 65% iron content, are hovering at around INR 5,080 per tonne.