Indian state-run iron ore miner is expected to increase domestic price of iron ore lumps and fines by 8-10 percent for August deliveries amid higher demand, market sources said on Friday.
The sources said that with most integrated steel mills which do not have captive iron ore mines having already increased plant capacity utilizations levels to range of 80-90 percent since early last month, demand for local iron ore lumps and fines were expected to increase providing NMDC the headroom to increase raw material prices.
Currently, NMDC’s price of high grade iron ore lumps is pegged at INR 2,450/mt ($32.70/mt), while price of iron ore fines is INR 2,160/mt ($28.80/mt). The prices are excluding all taxes, levies and royalties.
$1= INR 74.90