Reversing its decision early this month to keep prices unchanged for March, India’s state-run miner NMDC Limited has hiked prices of iron ore lumps and fines with immediate effect, according to a regulatory filing by the company.
Accordingly, NMDC’s price for iron ore lumps has increased by five percent to INR 5,350/mt ($73.79/mt) ex-pithead and its price for fines has risen by 2.4 percent to INR 4,310/mt ($59.44/mt) ex-pithead.
The prices are exclusive of royalty and mandatory payments to District Mineral Fund (DMF), National Mineral Exploration Trust (NMET), cess, forest permit fees and other statutory levies.
$1 = INR 72.50