NMDC Cuts Prices of Some Ore Grades in April; Shares Fall
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NMDC Ltd., India’s biggest iron ore producer, cut the prices of some grades of the steelmaking ingredient for the third time in 2013 as domestic demand slumped. The shares declined.
The state-owned miner lowered the price of the high-grade lump ore by about 7 percent this month, Finance Director Swaminathan Thiagarajan said today in a text message. Low-grade fines were unchanged from last month, he said.