Top iron ore miner NMDC kept its iron ore prices unchanged at Rs 1,800 a tonne for higher grade for consecutive three months, starting December 2015.
"The prices of iron ore with effect from February 2, 2016 has been fixed as... Lump ore @ Rs 1,800 wmt (wet metric tonne," NMDC said in a BSE filing.
For fines, which are inferior grade ore, the price has been fixed at Rs 1,560 a tonne, it said.
"The above prices are excluding royalty, taxes, DMF, duties, levies etc," NMDC said.
It had slashed prices of iron ore by Rs 300 to Rs 1,800 per tonne in December as it faced subdued demand for the key steelmaking raw material.
The PSU has reduced the prices of higher grade iron ore by 57 per cent to Rs 1,800 a tonne for December last year as compared to Rs 4,200 a tonne in January 2015.
Considering the global iron ore supply-demand scenario, analysts had predicted a downward revision in prices by NMDC.
The company's sales during April-December period stood at 20.32 million tonnes (MT).
Its production during the period stood at 20.08 MT.
India's largest iron ore miner's production rose by just 1 per cent to 30.4 MT in the last fiscal ended March, 2015 against the year-ago period, while sales registered a marginal increase to 30.5 MT during the same period.
Faced with declining sales, the public sector undertaking (PSU) has consistently slashed iron ore prices since January.
For September, NMDC had put iron ore lump prices at Rs 2,850 per tonne and that of fines at Rs 1,660 a tonne.
Likewise for July 2015, the price of lumps was Rs 2,950 per tonne and that of fines was Rs 1,660 per tonne.
The PSU had fixed lump ore prices at Rs 3,050, Rs 3,250 and Rs 3,750 per tonne in April, March and February, respectively this year.
While, prices of fines stood at Rs 1,960, Rs 2,460 and Rs 2,760 per tonne in April, March and February, respectively.
