As per media reports, state run Indian mining giant NMDC has reduced iron ore prices by INR 200 per tonne to INR 300 per tonne for sale during February 2015

The report quoted a senior company official as saying that “Our pricing committee has decided to reduce the prices by 5-10 per cent for the current month. The decision has been taken in a meeting on January 31.”

NMDC reviews the prices of its products every month. After holding the prices of iron ore for July-October period, it had reduced the rate of lumps by INR 200 per tonne for November. In December, NMDC had reduced the prices of lumps by INR 200 per tonne and INR 100 per tonne for fines. NMDC had rolled over the December prices in January at INR 4,200 per tonne for lumps and INR 3,060 per tonne for fines.

The price announcement has not been uploaded on NMDC website and the details are awaited