India’s state-run miner NMDC Limited has cut prices of iron ore lumps and fines for the second consecutive month, with immediate effect, sources said on Tuesday, May 30.
The price of iron ore lumps (Fe content 67 percent and above, 10-40 mm) has been cut by INR 300/mt ($3.63/mt), taking the effective price to INR 5,220/mt ($62.96/mt) ex-pithead. The price of iron ore fines (Fe content 64 percent, 10 mm) has been cut by INR 450/mt ($5.44), taking the effective price to INR 3,560/mt ($43.09/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 payments.