India’s state-run miner NMDC Limited has announced lower revised prices for iron ore lumps and fines effective from February 7, according to a regulatory filing of the company.
The company announced that the price of iron ore lumps for current deliveries will be INR 5,100/mt ($69.86/mt), down from INR 5,700/mt ($78.08/mt) earlier. The new revised price for iron ore fines has been fixed at INR 4,210/mt ($57.67/mt), down from INR 4,810/mt ($65.89/mt) earlier.
The price is exclusive of royalty and mandatory payments to District Mineral Fund (DMF), National Mineral Exploration Trust (NMET), cess, forest permit fees and other statutory levies.
The price cut comes after five rounds of increases in iron ore prices since November 1, 2020.
$1 = INR 73.00