NMDC cut base prices for iron ore from Karnataka

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State-owned miner, NMDC (National Mineral Development Corporation) has decreased the iron ore base prices for Karnataka e-auctions to be held in October. Earlier, NMDC has also cut iron ore prices by 5% for October deliveries in Chhattisgarh as well.

The company has decreased the prices by about INR 100 per tonne on monthly basis. Last month, the miner had increased the iron ore base prices by around INR 120 to 200 per tonne.

For October, the base prices for NMDC Donimalai fines (Fe 60.2%) has been decreased to INR 2,123 per tonne and lump (Fe 62.2%) to INR 2,442 per tonne.