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
- Restocking by steel producers ahead of the Mar2020 lease expiries for private miners (~50mt in Odisha);
- 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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