Indian state-run miner NMDC has hiked iron ore fines and lumps prices effective for all deliveries from January 6, 2020, a company statement said on Thursday.
NMDC Limited has increased the price of iron ore lumps by INR 500/mt ($6.83/mt) to INR 5,700/mt ($78/mt) ex-pit. The price of iron ore fines has been increased by 200/mt ($2.73/mt) to INR 4,810/mt ($65.80/mt) ex-pit.
The price is exclusive of royalty and mandatory payments to District Mineral Fund (DMF), National Mineral Exploration Trust (DMET), cess, forest permit fees and other statutory levies.
This is the fifth hike in iron ore price effected by NMDC since November 1, 2020, even though it may be noted that earlier this month the Ministry of Steel had advised the miner to cut prices to ensure the easing of the sharp price rise of raw materials faced by domestic steel mills.
$1 = INR 73.10