NMDC reduces prices, steel companies roll over prices in September

NMDC, the country's largest iron ore producer, has reduced prices by around Rs 1,000 a tonne, the company informed the stock exchanges on Monday.

With domestic demand playing catch up and iron ore prices on the mend, steel companies have rolled over prices for the month.

Three of the top steel producers said that prices for the month had been rolled over. Steel demand in the domestic market was impacted by the second wave of Covid-19, which reflected in a price correction in July. There was an increase in August in the global and domestic markets on the back of a cut in steel supply in China and now steel prices in the domestic market are being rolled over.

On the raw material side,