India’s NMDC Cuts Iron Ore Grade Prices, Shares Decline

Bloomberg reported that India’s biggest iron ore producer, NMDC Ltd, cut prices of some iron ore grades for the third time, causing its shares to fall as much as 2.4%.

As quoted in the market news:

The company, the worst performer on the S&P BSE Metal Index (BSEMETL) today, fell as much as 2.4 percent to 133.05 rupees and traded 2 percent lower as of 12:19 p.m. in Mumbai. The Metal Index climbed 0.2 percent.

Click here to read the full Bloomberg report.