Smouldering Hot – For Now
India's biggest iron ore producer NMDC, has hiked prices for the first time in the current fiscal (FY24).
India's biggest iron ore producer NMDC, has hiked prices for the first time in the current fiscal (FY24).
The decline in trade was attributed to a drop in consumer spending across advanced nations due to persisting geopolitical tensions and monetary tightening induced recessionary fears.
Shares of JSW Steel, Hindalco, Tata Steel, Jindal Steel & Power dropped up to 2% even after the government rolled back export duty on steel and iron ore products.
The Ministry of Corporate Affairs on Tuesday approved the demerger of NMDC Steel from NMDC
Sumit Deb led the company’s ambitious expansion plans and tapped the post-Covid commodity super cycle.
The government on Saturday hiked export duty on a range of finished steel products and iron ore.
PM Modi said it is a strange situation that iron ore is exported from India, which subsequently imports steel products from the same countries where iron ore is exported.