India’s state-run miner NMDC Limited has cut prices of iron ore lumps and fines by INR 300/mt ($3.61/mt) with immediate effect, according to a company statement on Tuesday, August 15.
Following the revision, the price of iron ore lumps (10-40 mm with Fe content of 67 percent and above) stands at INR 5,970/mt ($71.92/mt) ex-pithead and the price of iron ore fines (less than 10 mm with Fe content of 64 percent) stands at INR 3,910/mt ($47.10/mt) ex-pithead.
The prices are inclusive of mandatory levies like District Mineral Fund (DMF), National Mineral Exploration Trust (DMET) cess and forest permit fees.