 "Photo courtesy: www.nmdc.co.in")
Steel mills in India are likely to raise their product prices by Rs 1,000 a tonne to pass on the iron ore price hike by the government-owned merchant miner NMDC.
Today's iron ore price rise follows a 16 per cent increase in the international price of the commodity in November. NMDC keeps its prices 15-30 per cent lower than the landed cost of imported ore to remain competitive and even now its prices are 30 per cent lower than the landed cost in eastern India and 15 per cent lower in western India.
Following private miners, primarily in Odisha, NMDC raised its
