NMDC cuts iron ore prices, coking coal prices remain elevated
India’s largest iron ore producer NMDC NSE -0.24 % has lowered prices by around Rs 250-Rs450 a tonne for October deliveries, marking the third reduction after back-to-back increases. Coking coal prices, however, remain elevated.
“Due to rising iron ore prices, which just softened and skyrocketing coking coal prices, Indian steel mills are witnessing a jump of at least Rs 9,000 – Rs 10,000 a tonne of increase in the cost of production,” ArcelorMittal Nippon Steel India’s chief marketing officer Ranjan Dhar told ET.
