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#NMDC hikes prices!

NMDC has increased the price of its produces Iron ore Lumps by over 8% and Iron ore fines by over 11% effective from Wednesday the 30th of November.

🌟About NMDC:

NMDC is the largest Iron ore manufacturer in India accounting for over 18% of the total domestic production. An Increase by the Iron ore giant would likely induce the entire market to move this way.

🌟How has the market reacted?

The Navratna company’s share price has witnessed a 2% surge and it currently hovers at 120 levels.

🌟What industries are affected?

Iron and Steel Industries are leading importers of Iron Ore. With these raw material price hikes, Operating margins for the current quarter are likely to take a toll. #JSWSTEEL, #JINDALSTEL, #STEELXIND are some of the listed customers/importers of Iron Ore from #NMDC