Amit Dixit analyzes the impact of global iron ore price changes on NMDC in India, addressing the potential pressure on iron ore prices if steel prices decline, with insights into the dynamics of the Indian steel industry. Earlier NMDC prices were at a discount of 50%, now they are at a discount of roughly 30% compared to landed cost of imports. So, the discount factor is still there and NMDC is unlikely to cut prices because globally prices have corrected.