News: In the regulatory filing, NMDC has informed the exchanges that it has raised the Iron Ore Lump and Fine prices by ₹350/250 per tonne to ₹6,450 and ₹5,610 per tonne, respectively.
Views: This is the second consecutive price hike within a month, indicating favourable demand prospects as global iron ore prices rebound from their recent lows due to improved sentiment in the Chinese market. This development it will improve its profitability going forward. In a separate development, its board of directors have accorded in-principal approval for NMDC to act as the Distributor / Stockist for NMDC Steel Ltd. and to take up the marketing and sales of HR Coils, Sheets, Plates of NMDC Steel Ltd.
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