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Article: INDIAN ORE MINER NMDC TO NEGOTIATE PRICES WITH FOREIGN MILLS.
- Article from:
- AsiaPulse News
- Article date:
- September 29, 2008
CopyrightCOPYRIGHT 2008 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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NEW DELHI, Sept 29 Asia Pulse - India's largest iron ore miner NMDC Ltd (BSE:526371) is likely to negotiate the long-term contract prices of its iron ore exported to foreign steel makers this week, said government sources.
The move holds significance for domestic steel producers like Essar, Ispat and RINL, as prices of iron ore supplied by NMDC to them are determined on the basis of the percentage increase accepted by Japanese and South Korean steel mills duly adjusted to rupee-dollar parity.
"An Indian delegation including officials from NMDC and Ministries of Commerce and Steel would leave for a five-day visit to Japan and Korea from September 29 to ...