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BUZZ-India's NMDC falls after April-June profit halves
August 12, 2015 / 7:18 AM / in 2 years

BUZZ-India's NMDC falls after April-June profit halves

** NMDC falls as much as 4.6 percent; marking its lowest level since August 2013

** April-June earnings fall 47 pct

** Falling iron ore prices have been weighing on the performance of the company

** The iron ore futures contract traded on China’s Dalian exchange down 22 pct YTD

** Pricing pressure is unlikely to relent, as domestic merchant ore supply will not outpace demand till domestic steel production picks up which is 12-15 months away - IDFC (RM: tripti.kalro.thomsonreuters.com@reuters.net)

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