NMDC on export duty hike, iron ore price cut and new steel plant
N K Nanda, CMD of NMDC spoke to NDTV Profit on Export duty hike, a possible cut in iron ore prices and the steel sector. He said that NMDC may cut January to March prices, adding the global iron ore prices have declined by 15 per cent on quarter on quarter basis. However, Iron ore export duty is to be increased to 30 per cent. NMDC is also undertaking Rs 15,500 crore capex to set up a steel plant in Chhattisgarh.
