Even though Indian state-controlled miner NMDC Limited has maintained iron ore lumps and fines prices unchanged for current month deliveries, it could decide to announce more price hikes if market conditions provide support, a company official said on Thursday, June 24.
“Global commodity prices are cooling off, but prices are not showing signs of plateauing. Domestic demand is strong and, if market conditions allow, we could make more price hikes, NMDC chairman Sumit Deb said in a statement.
“We expect volumes from our Donimalai mines in Karnataka to increase to 6.5 million mt in the first quarter and, as we get more clearances, output from Donimalai should contribute 10 million mt per year,” Deb said.
NMDC is targeting production of 44 million mt by the close of fiscal year 2021-22, he said.