NMDC cuts Iron Ore prices for the second consecutive month

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Biznextindia : Public sector mining giant NMDC has cut Iron Ore prices for the second consecutive month due to sharp fall in sales.

 The miner on Thursday announced reduction of lumps price by Rs 200 per tonne to Rs 2,700 per tonne and fines price also by Rs 200 per tonne to Rs 2,460 per tonne. The new prices will be effective from today. The miner had cut Ore prices by Rs 200 in August Also.

NMDC’s production in August had fallen 3.4 percent to 1.41 million tonnes and sales also fell sharply by 35.77 percent to 1.49 million tonnes compared to same month last year.

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