Govt mulls advisory group for NMDC on iron ore pricing

The steel ministry is considering an advisory group for public sector miner NMDC  to rein in any potential price surge in iron ore, sources said. 

Iron ore prices have been on an uptrend for a while. The idea is to check input costs so that steel companies, on the threshold of recovery, are not impacted. 

Globally, iron ore prices have increased from $43.45 to $88 a tonne in one year. NMDC prices have increased by 35 per cent during the period.

Ore producers are apprehensive that an effort to control NMDC prices would impact private sector producers as well, since NMDC is the