Indian state-run miner NMDC Limited has hiked its domestic sale prices of iron ore for the second time this month, according to a regulatory filing by the company.
Accordingly, NMDC has increased its price of high grade iron ore lumps by INR 400/mt ($5.62/mt) to INR 3,200/mt ($45/mt).
Its price of low grade iron ore fines has been increased by INR 350/mt ($4.92/mt) to INR 2,910/mt ($40.92/mt), the company stated in its filing.
All prices are excluding royalties, taxes, cess and other levies.
In early January, NMDC had announced a INR 200/mt ($3/mt) increase in its iron ore prices, its first price hike in eight months. Better domestic steel demand and the uptrend prevailing in the finished steel market led to the further increase in iron ore prices.
$1 = INR 71.10