After rallying to $230 per tonne in May, international iron ore price has corrected significantly. However, after reaching a 52 week low of $103— down 55% from peak, iron ore prices have started bottoming out and now trading around $122. The recent underperformance of NMDC, India’s largest merchant iron ore miner, is mostly because of this factor. NMDC has crashed 25% during the last five months compared to 9% gain in Sensex and 25% gain in ET

Read more: EconomicTimes

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