Resumption of Donimalai mines remains the key trigger for NMDC: Analysts

After undertaking price cuts on two to three occasions since December, NMDC hiked prices of both fines and lumps by Rs 400 a tonne, or about 15 per cent, effective February 23.

Rising global iron ore and steel prices led NMDC to take effect these hikes, which should provide it some respite and improve its March quarter (Q4) outlook that otherwise appeared soft amid subdued realisations. Yet, the Street isn’t impressed, given prospects and concerns beyond Q4.

The latest price hikes have been supported by supply disruption at Vale in Brazil, a large global producer, following the accident at its mine. Consequently,