NMDC Limited, previously known as National Mineral Development Corporation, is an Indian state-controlled mineral producer.

NMDC hikes prices by ~8% — According to reports (Steelmint), NMDC has hiked prices for both iron ore lumps and fines by ~Rs200/t.

The hike follows increases announced by Orissa miners in Dec19.

This is NMDC’s first price hike since May19.

Reasons for hike

  1. Restocking by steel producers ahead of the Mar2020 lease expiries for private miners (~50mt in Odisha);
  2. End of the destocking phase for steel and potentially better steel demand; 3) Steel price hikes - Rs2,500 (~7%) since Oct19

Disclaimer: The above report is compiled from information available on public platforms. inChat team advises users to check with certified experts before taking any investment decisions.

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