NMDC wont hike iron ore prices this month

Written by Press Trust of India | New Delhi | Updated: Feb 6 2013, 06:30am hrs
State-owned miner NMDC has kept prices of iron ore unchanged for the current month to ensure better sales and keep them in line with those in Orissa, even as global rates have escalated.

The NMDC board met on February 2 and decided to keep iron ore prices for both lumps and fines varieties of the raw material unchanged from the previous month, a source present at the meeting told PTI.

Incidentally, international prices of iron ore for lumps the superior variety of key steel-making raw material are ruling at around $148 (about R7,800) a tonne, against just $87 per tonne in last September, mainly on high Chinese demand.