Friday, 6 December 2013

NMDC gains on hiking iron ore prices by Rs 200 a tonne

State-owned National Mineral Development Corporation (NMDC) has hiked its iron ore prices by Rs 200 a tonne for December. The price hike is in line with the global pricing of the ore and domestic demand-supply scenario.

The company has increased the prices of lumps and fines both. At present, the prices are Rs 4,500 a tonne for lumps and Rs 2,810 a tonne for fines.

The company had hiked the prices by Rs 100 a tonne in October. The October spike had come after several months of iron ore prices being either unchanged or cut.

NMDC is a state-controlled mineral producer of the Government of India. It is fully owned by the Government of India and is under administrative control of the Ministry of Steel.

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