 "iron ore mine")
State-controlled mineral producer NMDC Ltd has cut down iron ore prices by about Rs 500 a tonne for both lumps and fines, effective April 4. Experts say that the move comes in the backdrop of falling steel prices brought on by lower offtake, They believe the price reduction may encourage buyers to pick up larger quantities of the mineral.
The lump ore prices have come down from Rs 3,150 per tonne to Rs 2,650 with the announcement, while fines prices has been reduced from Rs 2,860 per tonne to about Rs 2,360 a tonne. The previous price change was a downward
