NMDC KEEPS PRICES UNCHANGED

For three months in a row, iron ore producer NMDC has kept the prices of the steel- making raw material unchanged for September mainly due to the plummeting global prices of the raw material. In a stock exchange communique on Tuesday, the country’s largest iron ore miner said it has “rolled over the August, 2014 prices of lump ore and fines” for September. Accordingly, the price of lump ores, which contain more iron and are used mostly by domestic steel makers, now stands at 4,600 per tonne and the prices of fines, having lower iron content, at 3,160 a tonne. NMDC, which reviews prices every month by judging demand and global prices, had not tweaked rates in July and August.