India iron ore miner cuts costs despite rally
Bloomberg India’s top iron ore miner is feeling the squeeze despite a global rally in the price of the steel-making material. NMDC Ltd. has cut prices about 6 percent in 2016 even as iron ore climbed 36 percent internationally. Challenges include record domestic supplies, moderating local steel demand and transport costs on India’s clogged railway. “Transport costs are prohibitive,” ...
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