Jindal Stainless Increases Chromite Imports

Business Standard reported that Jindal Stainless Ltd. (BSE:532508) will step up its imports of chromite because domestic prices are too high.

As quoted in the market news:

The state-run Orissa Mining Corporation (OMC), which enjoys a monopoly in determining ore prices in the state, has raised chrome prices by more than 10 per cent for the Jan-Mar quarter. The prices of different grades of chrome ore now cost between Rs 11,000 and Rs 16,000 per tonne in Orissa, the largest producer in India.

Click here to read the full Business Standard report.