Indian state-run miner NMDC Limited has increased its prices of iron ore lumps and fines for the second time in the current month of August, this time by INR 300/mt ($4/mt), company sources told SteelOrbis today, Wednesday, August 12. The sources said that the price change announced today is effective immediately.
The new price announced is at INR 2,950/mt ($39.44/mt) for iron ore lumps (Fe content of 65.53 percent, 6-40 mm). The price of iron ore fines has been revised to INR 2,660/mt ($35.56/mt). Prices are excluding all taxes such as royalties, levies, and District Mineral Fund (DMF) and National Mineral Exploration Trust (NMET), cess and forest permit fees.
On July 31, NMDC had announced a price increase of INR 200/mt for August deliveries to INR 2,650/mt ($35.42/mt) for high grade lumps and to INR 2,360/mt ($31.55/mt) for high grade iron ore fines.
$1 = INR 74.80