India’s largest iron ore miner, state-run NMDC Limited, has cut prices of high grade iron ore lumps by INR 200/mt ($2.80/mt) to INR 2,700/mt ($37.80/mt) ex-works, according to a regulatory filing at Bombay Stock Exchange (BSE) on Friday, September 20.
Price of iron ore fines has been lowered by INR 200/mt ($2.80/mt) as well to INR 2460/mt ($34.50/mt) ex-works.
The prices exclude all mandatory levies like royalties, district mineral fund (DMF) and contributions to the National Mineral Exploration Fund (NMET), forest permit and the Goods and Service Tax (GST).
In August, the miner had reduced prices for iron ore lumps from INR 3,100/mt ($43.40/mt) to INR 2,900/mt ($40.60/mt) and those of iron ore fines from INR 2,860/mt ($40.11/mt) to INR 2660/mt ($37.30/mt). All prices are ex-works.