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Kalyani Steel welcomes NMDC price cut on iron ore

Updated : April 19, 2018 12:32 PM IST

After public sector miner National Mineral Development Corporation (NMDC) announced a price cut of Rs 100 per tonne for both iron ore lumps and fines,  RK Goyal, MD of Kalyani Steel, spoke about the reduction of price and latest happenings in the company.

Goyal said that it’s a welcome thing that finally NMDC has reduced price by Rs 100 which is close to 2% of our acquisition cost of iron ore.

According to him, there is an artificial shortage of iron ore in India.

Talking about business, he said, “We are among the most profitable steel plant in the country and looking forward to increase our capacity.”

Speaking on graphite electrodes price, he said that his company uses lot of graphite electrodes and the prices have gone up by 15-20% from this month.
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