JSW Steel once again becomes largest buyer of NMDC iron ore in Karnataka

After a gap of three months, Sajjan Jindal-led JSW Steel has again become the largest buyer of NMDC iron ore in Karnataka. The steel producer had curtailed its off take from the state-owned miner due to quality issues, saying the price at which the ore was being offered was not justified.

“We had never stopped buying from NMDC. But now we are buying at previous levels,” Seshagiri Rao, joint managing director and group chief financial officer, told Business Standard. Rao said the miner made some price correction and that has translated in cost reduction to some extent, but overall cost continues