State-owned miner NMDC today reduced the prices of iron ore lumps by Rs 200 per tonne for August and kept the prices of fines unchanged amid subdued demand during the monsoon season.
Iron ore lumps will now be available at Rs 4,300 a tonne and fines at Rs 2,510 per tonne.
NMDC Director (Technical) N.K. Nanda said here that the company’s board has approved the reduction in the prices of iron ore lumps while leaving the prices of fines unchanged.
Iron ore lumps are of a higher grade with Fe content of 63-65 per cent. Fines are of lower grade with Fe content of less than 60 per cent.
NMDC shares were trading up 0.69 per cent at Rs 95.50 on the BSE.