Scope to increase iron ore price; domestic demand strong: NMDC
NMDC has been consistently hiking prices. CNBC-TV18 spoke to Sumit Deb, CMD of NMDC to get a sense of where their pricing stands now as compared to Odisha and global pricing.
NMDC has been consistently hiking prices. CNBC-TV18 spoke to Sumit Deb, CMD of NMDC to get a sense of where their pricing stands now as compared to Odisha and global pricing.
On pricing Deb said, “Domestic prices of NMDC are at - if you look at the East Coast, we are at around 40 percent at a discount to international prices, on the West Coast would be around 30-35 percent. So, our prices are lower to that extent. If you look at Odisha prices, we are more or less similar to what Odisha is offering.”
He added that there is still scope for increase in prices with the current scenario.
On demand Deb said, “Domestic demand looks very strong especially with the steel sector almost growing at 15 percent. So to that extent, demand is strong and we do not have any issues. The current production in this financial year we should be somewhere around 43-44 million tonne and in the next financial year we are looking at reaching the 50 million mark that's a target for the next year.”
For full management commentary, watch the video.
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