NMDC cuts iron ore prices by Rs 200 on global cues

National Mineral Development Corporation (NMDC), the country’s largest iron ore producer and exporter, slashed prices of iron ore by Rs 200 a tonne.

Analysts had expected the cut as global iron ore prices have corrected over the past two months.

From March 21, the lump ore prices have been cut to Rs 5,800 a tonne from Rs 6,000, and  fines to Rs 5,060 a tonne from Rs 5,310, the company said in an exchange filing on March 21.

(This is a developing story, please check back for updates)