PTI reported that NMDC expects the average price of iron ore in the current fiscal to be around INR 4,000 per tonne, a little lower than last fiscal's INR 4,019 a tonne.
NMDC's Finance Director Mr S Thiagarajan told PTI that "I think the average price of iron ore for the current fiscal will hover around INR 4,000 per tonne.'
Average price of INR 4,000 is at least three-year low for the company as it had sold its iron ore at INR 4,090 per tonne in 2011-12. The 2012-13 price was two per cent lower than that of 2010-11.