MUMBAI, Jan 3 (Reuters) - India's state-run NMDC Ltd
has cut prices of iron ore lumps for January by 5.8
percent on month but has kept the prices of fines unchanged, a
source said on Thursday.
Most of the steel makers in India including JSW Steel
and Essar Steel depend on NMDC to source iron ore, a
key raw material in steel making, due to mining restrictions in
key states like Karnataka.
NMDC, which accounts for about 15 percent of the iron ore
mined in India, has over 40 percent of the market share.
(Reporting by Siddesh Mayenkar; Editing by Anupama Dwivedi)