India’s NMDC Limited, the country’s largest iron ore miner will not make any immediate adjustments to its pricing strategy and wait until March 15 to take any possibly decision in the wake of the largest single day gains in international prices, a company official said on Monday, March 8.
He said that NMDC’s pricing committee will be meeting on March 15 to assess domestic and international prices. The pricing committee will also consider the volatility aspect of the rise in international prices and medium term sustainability before any possible revision in domestic prices, the official said.
As a government owned and operated miner, NMDC is responsible to ensure raw material supplies at competitive prices to local steel mills, many of which are facing stress, narrowing the opportunities provided by surge in international prices, he added.