Quick view: No change in NMDCs Nov iron ore prices

Updated: Nov 9 2013, 10:11am hrs
State-owned NMDC has decided to keep iron ore prices unchanged for the current month amid subdued demand after having raised them in October by R100 a tonne.

"The company Board, in its meeting held few days back, decided to continue with the rates of October for both the varieties, lumps and fines," a company official said, adding that continuing subdued demand has been one of the major factors behind the decision.

Accordingly, Iron ore lumps will continue to be available at R4,300 per tonne, while fines will be at R2,610 per tonne for the current month. Last month, the largest domestic iron ore miner had gone for its first price hike in year and had raised the rates by R100 a tonne for both the varieties.

Jeera hits contract low on good weather

Jeera futures hit a contract low on favourable weather for sowing, prospects of a higher area under cultivation and good supplies. A lowdown:

* Sowing of jeera has started in some areas. Jeera, or cumin seed, is a winter crop sown from October and farmers mainly depend on rains to moisten the land for sowing.

*On Friday, the actively traded jeera contract for December delivery was down 0.71% at R12,515 per 100 kg on the National Commodity and Derivatives Exchange (NCDEX) after hitting a contract low of R12,455 earlier in the day.

*he trend looks weak due to prospects of better sowing but export demand may restrict any sharp fall, said an analyst from Angel Commodities.

*The Unjha market in Gujarat is shut due to Diwali