Iron ore producer NMDC has lowered the value of lump ore by ₹300 a tonne and that of fines by ₹450 for the same amount with impact from May 29.
The new per tonne value is ₹3,900 for lump ore and ₹3,560 for fines, NMDC mentioned on Tuesday. April 29 is when it had beforehand revised the prices, to ₹4,200 for lump ore and ₹4,010 for fines. Iron ore is a key uncooked materials for metal manufacturing and any change within the prices is indicative of the demand for the tip product.
