NDMC increases iron ore price by 11 %

Hyderabad, Jul 1: Due to the international market trends, the State owned National Mineral Development Corporation (NDMC) has increased the prices of iron ore by eleven percent on Thrusday, Jul 1.

"The prices were decided in a board meeting of the NDMC. The price will be given on the quarterly basis throughout this year,"said Thyagarajan, NDMC Financial Director.

"Japan steels have fixed their prices on quarterly basis. We are also going for the same. It has been worked out taking the Freight On Board (FOB) realization," he added.

Previously the price was Rs 2600 and now it would be Rs 2920, with an increment of Rs 320.

ANI