Steel companies in wait-and-watch mode, expect reduction from NMDC
Recovery in domestic iron ore prices would be propelled by demand uptick as steel makers are expected to ramp up capacity utilisation with concerns easing on the Covid-19 pandemic
Cuts iron ore prices for second straight month in May
By March 2020, more than 30 iron ore mining leases, all held by merchant or non-captive lessees, are scheduled to expire
While the ministry of mines favours a benchmarked price, the ministry of steel vehemently opposes such a move
Globally, iron ore prices have increased from $43.45 to $88 a tonne in one year
Government is also likely to finalise the National Steel Policy by April