NMDC cuts iron ore price for fourth time this year

Iron ore producer NMDC has reduced the prices by ₹200 for a tonne of Lump and by ₹400 for the same quantity of Fines. This is the fourth reduction NMDC has effected in the prices in as many months. Effective October 5, the new prices are ₹5,950 per tonne of Lump Ore and ₹4,760 per tonne of Fines as against ₹6,150 and ₹5,160 respectively that the company had fixed last month. In July, NMDC had reduced the prices by ₹200 per tonne for both Lump and Fines, while in August it slashed them by ₹300 a tonne for Lump and by ₹200 for Fines..