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Price band for iron ore soon to curb volatility: Minister
Language : hindi
Business . Difficult
20-04-2017 23:20:11 .
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 The central government on Thursday said it will soon announce pricing mechanism for iron ore that would set price band within which the mineral price would be allowed to fluctuate. 
"We have set up committee on iron ore pricing, which will present its report in the next 15 20 days, at the most in month's time, Minister of Steel Chaudhary Birendra Singh told BTVi in an interview. 
"Thereafter, we'll fix certain benchmark pricing, so that there are no fluctuations, he said. 
"If there is benchmark, then variations up to 10 12 per cent is alright. 
but 30 40 per cent fluctuation is too much volatility, he added. 
The government does not want high volatility in the iron ore market and wants the mineral prices to be as competitive as possible for steel companies. 
In separate interview with the channel, Steel Secretary Aruna Sharma said: "State run iron ore miner National Mineral Development Corporation Ltd (NDMC Ltd) needs to keep in mind the interest of its private steel making consumers while deciding on pricing. 
"Our strength is our iron ore deposits, but we also have to look at the pricing process. 
It can't be so expensive that steel making itself becomes non competitive, Sharma said. 
"We have to look holistically at the complete value chain. 
Profits, yes. 
but no profiteering, she said. 
"The NMDC has to come to discipline and system. 
Being big player, their pricing will hit private players, she added. 
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DIFFICULT WORDS
profiteering holistically fluctuations fluctuation competitive volatility variations government discipline mechanism
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