Indian state-run iron ore miner NMDC Limited has increased its price for iron ore lumps by INR 100/mt ($1.30/mt) and its price for fines by INR 200/mt ($2.60/mt) with immediate effect, a company regulatory filing said on Monday, April 4.
Following the increases, the effective price of iron ore lumps stands at INR 6,100/mt ($80.47/mt) ex-pithead and that of fines is at INR 5,160/mt ($68/mt) ex-pithead. The previous price revision was in early March. This hike in iron ore prices has followed significant increases in local steel prices in India.
The new 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.