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NMDC slashes iron ore price by Rs 400/tonne in second cut in 40 days

Firm say the move has given a lot of relief to steel companies, especially sponge iron-based firms in Chhattisgarh

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It may be noted that all the major steel mills are running at reduced capacity because of the depletion in demand for end-products.

T E Narasimhan Chennai

2 min read Last Updated : May 13 2020 | 7:09 PM IST

NMDC has reduced the prices of iron ore by Rs 400 and also reduced the price of Direct Reduced Caliberated Lump Ore (DRCLO) by Rs 470 a tonne.

This is the second price cut by the company in about 40 days. NMDC had earlier reduced the price of iron ore by Rs 500 per tonne and DRCLO by Rs 580 on April 4, taking the total price reduction in the two commodities to Rs 900 per tonne and Rs 1,050 per tonne, respectively.

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Topics : iron ore miners iron ore trade iron ore output iron ore mining NDMC

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