NMDC cuts iron ore lump price by Rs 200/t; fines unchanged

Iron ore lumps will now be available at Rs 4,300 a tonne and fines at Rs 2,510 per tonne amid subdued demand during the monsoon season

August 07, 2013 / 17:40 IST

State-owned miner NMDC today reduced the price of iron ore lumps by Rs 200 per tonne for August and kept the price of fines unchanged amid subdued demand during the monsoon season.

Also Read: NMDC Q1 PAT seen down 22.5% at Rs 1477 cr: Poll

Iron ore lumps will now be available at Rs 4,300 a tonne and fines at Rs 2,510 per tonne. NMDC's Director (Technical) NK Nanda said here the company's board today approved the reduction in the price of iron ore while leaving the price of fines unchanged.

Iron ore lumps are of a higher grade, with Fe content of 63-65 percent. Fines are of lower grade, with Fe content of less than 60 percent. NMDC shares were up 0.69 percent at Rs 95.50 on the BSE at 1410 hours.

first published: Aug 7, 2013 05:40 pm

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