NMDC, India's largest manufacturer of iron ore, iron ore contract price adjustments 7-8 months claimed this week.
 
Due to increased demand and decreased supply, NMDC2 quarter iron ore contract price increased by 8% to 10%, 65% Fe grade lump ore prices rose to 5,400 rupees / ton, the price of iron ore fines for 2800 rupees / ton.
The recent steel mills accused NMDC domestic ore overpriced, but the NMDC called iron ore price is lower than the international market prices, prices vary depending on the demand and supply.
 
implementation ore mining ban, and Orissa and Jharkhand some mines shut down or cut production, India's domestic iron ore supply shortage.
 
2011/12 fiscal year (ended March 31, 2012) India's domestic iron ore production to 169 million tons, India Mining Industries Alliance (FIMI) the this fiscal annual production is expected to drop further to 1.4 million tons.



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