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Chart Beat: Why NMDC does not have enough steam to sustain the momentum
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₹5,600 per tonne and ₹4,910 per tonne, respectively. But prices may lose their momentum going ahead.
For one, global iron ore prices have started falling. Currently, the price of China iron ore fines is about $129 per tonne, down 7% versus December end levels, according to SteelMint.
Back home, domestic steel prices are on a weak footing. Iron ore is a key raw material used in steel production, and subdued demand for it means a further ramp-up in iron ore prices can be ruled out.
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