Fixed price implementation from NMDC for iron ore

Fixed price implementation from NMDC for iron ore

Indian state-owned National Mineral Development Corp Ltd (NMDC) has recently announced that it will sell all its iron ore products at fixed price. After negotiations with the customers, the fixed price for DR Grade calibrated lump ore was determined as Rupees 950 per ton ($21) as of April 1, 2004. Now the company will fix the prices of other products.