Agency reports suggest that the board of NMDC would meet on in the first week of February in order to review the price of iron ore.
Industry sources expect the firm to raise prices for February given that ore price at the international market is rising considerably.
From $90 a tonne in last September, iron ore price has risen to $150 per tonne at present in the international market.
However, some days ago, the company lowered the price of iron ore lumps for January even though international prices went up. The jump in international iron ore prices in recent times is reportedly due to the sudden spurt in demand from Chinese steel makers amidst subdued global supply.
NMDC slashed the price of iron ore lumps, mostly used by Indian steel makers, by 5.9 per cent or Rs 320 a tonne for January, but kept the the price of fines, which have less iron content, unchanged at Rs 2,610 per tonne.
Consequently, the average price for NMDC’s iron ore lumps, having 65 per cent iron content, were hovering at around Rs 5,080 per tonne.
Domestic firms had even suggested that NMDC should have brought down the price of fines as well as they are available at a cheaper rate even domestically. Iron ore lumps and fines are two main variants of the raw material for steel-making.
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